Blue star on chart followed a pattern of breakout and re-testing its previous resistance zone .
It has completed its resistance and moved back to the breakout zone.
CMP 1022
above the level of 1022 it can give a targets of 1090/1154
Blue Star Ltd. It offers India's widest range of air conditioning and commercial refrigeration products and a comprehensive range of air purifiers, air coolers, water purifiers, cold chain equipment and speciality products. Blue Star Ltd CMP is 952.60.
The Negative aspects of the company are High Valuation (P.E. = 41.9), MFs are decreasing stake, and Promoter...
Good Day,
Hello Traders,
Since Sept 2021 till April 2022 Blue Star stayed in an Upward
Parallel Channel. After that the price wne t from 1211 to 856 (-28.64%).
See how beautifully it is following Fibonacci Levels as the rounding bottom is completed
Now the next targets lined up are 1381/ 1641.
Time Frame: Weekly
It also depends how market behaves, however...
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.
Buy Blue star at current price of rs.1065 sl 990 on closing basis target is 1266 , 1500 . risk to reward ratio is very good . i expect good return . please keep stop loss
Very strong stock.
Month, week, day chart technical indicators bullish.
Entry - wait Range break out
This stock 8s near 52 week high(1091.15) level
Higher probability of upside movement.
1043, 1052, 1066 registens levels
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BluestarCO broke out of its descending triangle last week. Now the previous resistance has become the support. Entry at 848, The target for the stock can be 937 with a stop loss of 810. High volume can be noted at the break out day. Weekly MACD starting the upside momentum
TimeFrame : Daily
Triangle breakout
RRR - 1:2
The Indicator Used:
PANEL 1:
1) Daily Lines Plots Daily 20 (BLACK) & 50 EMA (GREY), BLUE (200 DAILY EMA ) On Lower Time Frame Charts.
2) Valuation band
KEYS: Red Faded Cloud: Over Valuation.
Grey Faded Cloud: Proper Valuation.
Green Faded Cloud: Under Valuation.
PANEL 2:
1) TE-REKAB - Proprietary Indicator
KEYS:
PB: Pullback
Blue Candle: Selling Divergence
Yellow...
Stock was falling for the past 10-12 days which was ended by yesterday's green candle. It made a morning star pattern. Confirmation came after today's green candle. It was formed at good support level which was coincidently also 50% retracement of the last move.
