MTF Stock Pick Buy Blue Star Ltd For Target Rs. 940 - HDFC Securities
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MTF Stock Pick Buy Blue Star Ltd For Target Rs. 940 - HDFC Securities
TECHNICAL OBSERVATIONS
The attached daily timeframe chart of BLUE STAR, which has moved sideways for few sessions and in today’s session it has given a breakout with higher volumes.
The stock has also breached above downward sloping trend line
We observe a formation of bullish pattern on daily and weekly time frame.
The stock is continuously trading above 21 EMA from 3 sessions.
Momentum oscillators like RSI and MACD are giving bullish indication suggesting bullish movement for the stock for few more weeks.
The overall chart pattern of BLUE STAR indicates long trading opportunity. One may look to create positional long as per the levels mentioned above.
Buy Blue Star Ltd Up to 3 Months @ Add on dips 820 CMP 846.40 TGT 940 SL 816
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