Moneycontrol
Last Updated : Nov 19, 2018 12:02 PM IST | Source: Moneycontrol.com

Buy Blue Star at around Rs 600, say Shabbir Kayyumi

Buy Blue Star around Rs 600 with stop loss of Rs 560 for the target of Rs 668 levels.

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Shabbir Kayyumi

Narnolia Financial Advisors

After finding bottom near the levels of Rs 500-510 zones, Blue Star took a flip for moving towards on north side. Currently, it gave breakout above its neckline of Inverted Head and shoulder pattern and also gave decisive closing above the neckline which indicate further strength in the pattern. As per pattern target is coming around at Rs 668 levels.

From last few days, it has been trading above its 20 DMA which is found around its Rs 560 levels also implying further strength in short term. Moreover, Momentum indicator RSI is also looking firm above 50 suggest further move in same direction. Buy Blue Star around Rs 600 with stop loss of Rs 560 for the target of Rs 668 levels.
First Published on Nov 19, 2018 12:02 pm
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