Technical Positional Pick - Buy Bharat Dynamics Ltd For Target Rs. 430 - HDFC Securities
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Technical Positional Pick - Buy Bharat Dynamics Ltd For Target Rs. 430 - HDFC Securities
TECHNICAL OBSERVATIONS
The attached weekly timeframe chart of Bharat Dynamics Ltd indicate an upside bounce after a downward correction of the last two weeks.
The stock price has formed a bottom reversal at the support of 20w EMA around Rs 370 levels. This is positive indication and one may expect further upside in the near term.
The stock price is consistently making higher bottoms, which indicate intact of the long term uptrend in the stock price.
Weekly 14 period RSI and weekly ADX/DMI shows positive indication.
The overall chart pattern of BDL signal long trading opportunity. One may look to create positional long as per the levels mentioned above.
Buy Bharat Dynamics Ltd Up to 3 Months @ Add on dipe 368 CMP 391 TGT 430 SL 358
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