Blue Dart Express Limited Stock Forecast
Green day on Thursday for Blue Dart Express Limited
(Updated on May 16, 2024)
The Blue Dart Express Limited stock price gained 0.83% on the last trading day (Thursday, 16th May 2024), rising from ₹7,121.35 to ₹7,180.80. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.68% from a day low at ₹7,137.75 to a day high of ₹7,258.00. The price has risen in 7 of the last 10 days and is up by 15.17% over the past 2 weeks. Volume fell on the last day by -633 shares and in total, 613 shares were bought and sold for approximately ₹4.40 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 16.34% during the next 3 months and, with a 90% probability hold a price between ₹7,178.13 and ₹8,670.84 at the end of this 3-month period.
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BLUEDART.BO Signals & Forecast
The Blue Dart Express Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹7,109.52 and ₹6,398.53. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -1.68%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Blue Dart Express Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹6,819.90 and ₹6,316.75. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Blue Dart Express Limited finds support just below today's level at ₹6,819.90. If this is broken, then the next support from accumulated volume will be at ₹6,316.75 and ₹6,300.15.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹120.25 between high and low, or 1.68%. For the last week, the stock has had daily average volatility of 2.06%.
Our recommended stop-loss: ₹6,935.00 (-3.42%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (BLUEDART.BO) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Blue Dart Express Limited to open at ₹7,192.18, and during the day (based on 14 day Average True Range), to move between ₹6,970.76 and ₹7,390.84, which gives a possible trading interval of +/-₹210.04 (+/-2.93%) up or down from last closing price. If Blue Dart Express Limited takes out the full calculated possible swing range there will be an estimated 5.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹7,203.35 (0.31%) than the support at ₹6,819.90 (5.03%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Blue Dart Express Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Blue Dart Express Limited stock to perform well in the short-term.
Current score: 2.394 Buy Candidate Unchanged
Predicted Opening Price for Blue Dart Express Limited of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| ₹7,192.18 ( 0.159%) | ₹7,180.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLUEDART.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7,312.43 | 1.83 % | |
| R2 | 7,266.50 | 1.19 % | ||
| R1 | 7,238.12 | 0.798 % | ||
| Current price: | 7,180.80 | |||
| Support | S1 | 7,146.25 | -0.481 % | |
| S2 | 7,117.87 | -0.88 % | ||
| S3 | 7,071.93 | -1.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7,303.45 | 1.71 % | |
| R2 | 7,247.25 | 0.93 % | ||
| R1 | 7,203.35 | 0.314 % | ||
| Current price | 7,180.80 | |||
| Support | S1 | 6,819.90 | -5.03% | |
| S2 | 6,316.75 | -12.03% | ||
| S3 | 6,300.15 | -12.26% |
BLUEDART Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 12, 2024 | Jul 12, 2024 | Aug 18, 2024 | ₹25.00 | 0.348% |
| 2 | Jul 19, 2023 | Jul 19, 2023 | Aug 26, 2023 | ₹30.00 | 0.469% |
| 3 | Jul 18, 2017 | Jul 18, 2017 | Aug 03, 2017 | ₹15.00 | 0.358% |
| 4 | Jul 19, 2016 | Jul 19, 2016 | Jul 19, 2016 | ₹30.00 | 0.501% |
| 5 | Jul 20, 2015 | Jul 20, 2015 | Jul 20, 2015 | ₹20.00 | 0.312% |
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