Blue Dart Express Limited (BLUEDART) Stock - Complete Technical Analysis - Sep 27, 2024

Blue Dart Express: Technical Analysis & Key Trading Levels You Must Know

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Analyzing Blue Dart Express Limited, currently trading at 8100, we observe several technical indicators and patterns that could guide traders. The stock is currently positioned 14.63% below its recent 52-week high of 9488.7, achieved on September 17, 2024, while being 47.63% above its 52-week low of 5486.6 from March 19, 2024.

An inside candle pattern formed recently, indicating a potential consolidation phase with the parent high at 8249.95 and a low at 8057.45. The price action has been contained within this range for two consecutive days, signaling a cautious market sentiment.

In terms of momentum, the MACD shows a positive divergence, which could suggest a possible reversal. The RSI indicates the stock is approaching oversold conditions, hinting at a potential buying opportunity if bullish momentum develops. The ADX indicates a trend strength above the 20 mark, suggesting a developing trend but not yet strong.

Support levels are indicated around the previous pivot levels, while resistance is anticipated near the recent highs. Traders should keep an eye on the key levels as the stock navigates this consolidation phase, with increased volume potentially confirming any breakout or reversal.