Blue Dart Express Limited (BLUEDART) Stock - Complete Technical Analysis - Dec 16, 2024

Blue Dart Express Stock Analysis: Support & Resistance Levels for Smart Traders

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 (BLUEDART) is currently trading at 7,829.35, 17.49% below its 52-week high and 42.70% above its 52-week low, reflecting some consolidation. The stock has seen price fluctuations recently, with an indecision pattern identified in the form of a Doji and Spinning Top candlesticks. The low ADX value indicates weak trend strength, but the RSI of 55.95 and the Stochastic Oscillator reading of 85.86 suggest that the stock may be entering a correction phase or could face a reversal.

From a momentum perspective, MACD is negative, signaling bearish pressure in the short term, though momentum is strong, which could support a rebound if buying interest picks up. The stock has shown volatility with price fluctuations, and with ATR (Average True Range) reflecting considerable price movement in recent days, traders should remain cautious around key price levels.

Support stands firm at 7,6507,700, while resistance levels are near 8,0008,200. If the stock breaks above resistance, it could test higher levels, while a failure to hold support might lead to a further decline toward 7,4007,500. Given its fundamentals, including solid ROE and ROCE, Blue Dart remains a good choice for long-term investment but presents short-term volatility that traders can use to their advantage if they monitor key price levels.