Blue Dart Express Limited (BLUEDART) Stock - Complete Technical Analysis - Sep 06, 2024

Blue Dart Stock Analysis: Key Support, Resistance

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.

For Blue Dart Express Limited, currently trading at 8,177, lets dive into a technical analysis. The stock is trading 8.93% below its 52-week high of 8,980, which was reached on July 16, 2024, and 49.05% above its 52-week low of 5,486.6 from March 19, 2024.

Starting with the trend indicators, the MACD is positive, suggesting bullish momentum, while the RSI is in neutral territory around 52.56, indicating no strong overbought or oversold conditions. The ADX is low at 10.7, pointing to a weak trend strength and potential market indecision.

Support and resistance levels are critical for this stock. The Classic Pivot Point is around 8,080, with immediate resistance at the Camarilla R1 and Classic R1 around 8,350. On the downside, the Camarilla S1 and Fibonacci S1 offer support near 7,988 and 7,859, respectively.

Moving averages show that the stock is above its short-term EMAs and SMAs but below the longer-term averages. The 10-day EMA is slightly above the current price, suggesting minor short-term resistance, while the 200-day EMA is significantly below, indicating a long-term uptrend.

Recent candlestick patterns show a Doji, indicating indecision, followed by a Bullish Harami, which might suggest potential reversal if confirmed. The Spinning Top pattern also signals indecision in the market, reinforcing the potential for volatility.

The Average True Range indicates high volatility with recent values fluctuating significantly, suggesting traders should expect wide price swings.

Overall, while the stock shows some bullish potential with its positive MACD and recent candlestick patterns, traders should watch for confirmation of a trend reversal and be cautious of the high volatility.