Blue Star Limited
Blue Star Limited is a fantastic long-term investment because it has reached its top and is still growing.
Kindly study and comprehend Blue Star Limited's weekly chart pattern. Blue Star Limited is a great investment between 1750 and 1800, according to our study. It has done well thus far and has a lot of growth potential.
Kindly consult the weekly chart that Blue Star Limited has released. As can be seen from the chart below, the stock has broken above the 1750–1800 range and is currently trading above horizontal resistance. The information indicates that Blue Star Limited traded in 1930 and is in great demand. The substantial upside potential of this stock, which could see it rise to the predicted range of 2150–2200, is shown in the chart below.
- Blue Star Limited has grown gradually and had a big breakout at 1750-1800, it is an outstanding long-term investment potential.
- It seems that Blue Star Limited is in a good situation, with room to grow to 2200 and 2150.
- Since this company's risk-reward ratio is ideal for cash transactions between 1750 and 1800, now is the best moment to purchase it.
- With a target price range of 2150 to 2200, the chart indicates that the stock has broken out of an ascending triangle pattern.
Please see the weekly chart that Blue Star Limited has supplied. The weekly chart displays demand in the 1750–1800 price range, a breakout, and horizontal resistance. The higher demand causes the stock in that range to rise.
Now is a perfect time to buy the stock because it has reached a new high. Please take note of the horizontal resistance and its overcome, however. As of right now, the stock might hit its goals of 2150 and 2200 if we stick with the chart's upward trend.
The pattern's most recent goals were in the 2150–2200 range, and Blue Star Limited broke out of the ascending triangle. One of the chart patterns employed in technical analysis is the rising triangle. A rising trend line and a horizontal line at the swing high and low, respectively, are produced by price disparities. Triangle is formed by these two lines.
Given the high demand for the stock, investors might be searching for a long-term purchasing opportunity in the 1750–1800 range in order to profit from any future losses. A recovery to the 1750 and 1800 levels is possible, suggesting that the risk-reward ratio is advantageous. Take advantage of any dip to buy this stock, which has a significant upside potential. Use any drop in value for stock in the company.
Alternatively, investors may decide to put money down and purchase the stock piecemeal, targeting a price range of 2150 to 2200 and setting a stop loss of 1650.
When price volatility decreases before a significant gain, traders and investors typically look for a Volatility Contraction Pattern (VCP), which enables the stock or instrument to reach high volume and upside with a swift increase and target hit. You can download the FxCareers app from the Google Play store to learn more about VCP patterns. A high-precision pattern recognition method is also presented.
The weekly chart of Blue Star Limited displays both resistance and support. The spot chart shows the levels.
|
Blue Star Limited |
Support |
Resistance |
|
Level 1 |
1750 |
2150 |
|
Level 2 |
1650 |
2200 |
Company Profile: Based in Mumbai, Blue Star Ltd. is a global Indian firm that manufactures household appliances. Air conditioning, commercial refrigeration, and MEP (mechanical, electrical, plumbing, and firefighting) are its areas of expertise. In the domestic air conditioning market, it is the second-biggest participant in the nation.
Mohan T. Advani established Blue Star as a reconditioning business in 1943. Shortly after its founding, Blue Star started producing bottle coolers and ice candy makers. It also started designing and implementing central air conditioning projects and producing water coolers.
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