Bharat Dynamics Ltd. is one of the leading defence PSUs in India engaged in the manufacture of Surface to Air missiles (SAMs), Anti-Tank Guided Missiles (ATGMs), Underwater weapons, Launchers, Counter Measures Dispensing System (CMOS) and Test Equipment. The Company is engaged in the business of refurbishment and life extension of stored and deployed missiles. It...
As per my analysis NSE:BDL has given a breakout for some upside levels. Best level to take positional buy entry will be 990 with stop loss of 890 (-100 Risk). My expected upside target would be 1087 (+97) & 1145 (+155). This could be low risk and reward idea.
Note: This is my personal analysis, only to learn stock market behavior.
Thanks.
Price pattern shows a potential reverse Adam & Eve pattern formation.
Price is heading towards support around 570 level which is also at golden FIB zone.
If this support breaks, then the price will fall to 375-400 levels.
Broader view shows price is moving inside the ascending channel and it should touch the bottom of the channel in confluence with the support...
The stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below the support zone & the lower trendline. The target is placed near resistance.
Price of NSE:BDL formed a green candle at its trendline support from which it can bounce back to the upper channel.
Price has been consolidating for quite some time in this channel pattern. A low risk setup presents itself at C.M.P.
Stop loss and target marked on the chart. Low risk high reward setup(in case price breaks out of the channel).
Hold in case of a...
Bharat Dynamics Ltd - 08.12.2021
The stock is trading @ 403 levels
The stock is at support level in 15 minute Chart
There is MACD Bullish Divergence in 15 min Chart
Let the prices go above 414
watch out for the price action
This script had been moving upwards in the channel at a decent pace forming an Ascending Triangle in the process. Last month once the Galwan valley fight started, that is when this defense stock gave a breakout of the Ascending Triangle and started racing on.
Since the breakout it has given a staggering 68% returns in 24 days.
The stock also continued in the...
