Blue Dart Express Limited (BLUEDART) Stock - Complete Technical Analysis - Oct 25, 2024

Blue Dart Express Limited Technical Analysis: Support & Resistance Insights

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. Blue Dart Express Limited's current price of around 7,720 signifies a substantial decline from its recent peak of 9,488.7 on September 17, 2024. Currently, the stock sits 18.64% below its 52-week high and 40.70% above its 52-week low of 5,486.6. Observing recent price action, there is a noticeable downtrend characterized by a spinning top candlestick, signaling indecision within the market.

From a technical standpoint, immediate support is located near 7,612, while resistance levels appear to cluster around 8,550. The MACD is in negative territory, reinforcing a bearish outlook, while the RSI is currently below 30, indicating an oversold condition. The ADX reading below 30 suggests a weak trend, highlighting the need for caution among traders.

Moreover, volatility is pronounced, with the stock reflecting significant price swings in the past week, suggesting possible reversals. Key indicators like the Awesome Oscillator and Williams Percent Range indicate selling pressure, which traders should factor into their strategies. As such, a close watch on potential trend reversals and volume activity is advisable for both short-term and long-term investors.