Bharat Dynamics Ltd - Breakout Opportunity
Date: 16-May-2024
Rating: Buy - Positional Trade
LTP: Rs. 2,069.60
Targets: (1) Rs. 2,098 --> (2) Rs. 2,278 --> (3) Rs. 2,571
SL: Rs. 1,938 on daily close basis
Technical View:
•
BDL is in its primary uptrend and was recently going through it's secondary downtrend.
• After touching the high of 2,097.95 on 25-Apr-2024, it has retraced 14% to 1,805.55 level.
• On 16-May-2024,BDL has broke out from its secondary down trend with higher than average volume.
•BDL is already trading above 20 DMA, 50 DMA and 21 DEMA.
• Both RSI and MACD have formed bullish crossover and are trading at 66.32 and 41.62 respectively.
• Looking strong to start a new swing from here.
Key Events:
• 2/1 stock split. Record Date: 24-May-2024
• Quarterly Result and Dividend announcement: 29-May-2024
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
Rating: Buy - Positional Trade
LTP: Rs. 2,069.60
Targets: (1) Rs. 2,098 --> (2) Rs. 2,278 --> (3) Rs. 2,571
SL: Rs. 1,938 on daily close basis
Technical View:
•
BDL is in its primary uptrend and was recently going through it's secondary downtrend.• After touching the high of 2,097.95 on 25-Apr-2024, it has retraced 14% to 1,805.55 level.
• On 16-May-2024,
BDL has broke out from its secondary down trend with higher than average volume.•
BDL is already trading above 20 DMA, 50 DMA and 21 DEMA.• Both RSI and MACD have formed bullish crossover and are trading at 66.32 and 41.62 respectively.
• Looking strong to start a new swing from here.
Key Events:
• 2/1 stock split. Record Date: 24-May-2024
• Quarterly Result and Dividend announcement: 29-May-2024
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
Catatan
17-May-2024-----------------
LTP: Rs. 2324.25
1st and 2nd targets (2,098 and 2,278) reached. 12% up from suggested level.
NEXT TARGET: Rs. 2,571.
Catatan
21-May-2024-----------------
LTP: Rs. 2,538.40
3rd target of 2,571 reached. 23% up from suggested level.
MACD, RSI and Moving averages are still giving bullish indication. Can eye 2,863 as Next Target.
Catatan
23-May-2024----------------
LTP: Rs. 2,810.55
4th target of Rs. 2,863 reached. 36% up from suggested level.
Tomorrow (24-May) BDL will split and will open at Rs. 1,405.
After split, HAL has started an unstoppable journey and CochinShipyard hit 20% UC on split day. Let's see how BDL performs tomorrow. Technicals are still suggesting bullish momentum.
Catatan
25-May-2024:-----------------
Stock has split on 24-May at 2/1 and opened at 1,434.95. Post that it touched the high of 1,658.95 and closed 8.38% up.
Suggested at 1034.8 (2,069.60 before split).
LTP: 1523.05.
47% up from suggested level.
HOLD till the momentum is strong with open target.
Trading ditutup: target tercapai
In last one week lot of price action has been seen. Hence, closing this idea and publishing new one with updated chart and targets.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.