⚠ Disclaimer: This report is generated using AI tools and is for informational purposes only. It does not constitute investment advice. Please consult a registered financial advisor before making any investment decisions.
BLUEJET - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 2.5
| Stock Code | BLUEJET | Market Cap | 7,040 Cr. | Current Price | 406 ₹ | High / Low | 1,028 ₹ |
| Stock P/E | 20.0 | Book Value | 72.4 ₹ | Dividend Yield | 0.29 % | ROCE | 39.8 % |
| ROE | 30.2 % | Face Value | 2.00 ₹ | DMA 50 | 514 ₹ | DMA 200 | 628 ₹ |
| Chg in FII Hold | -0.69 % | Chg in DII Hold | 1.02 % | PAT Qtr | 52.1 Cr. | PAT Prev Qtr | 91.2 Cr. |
| RSI | 20.6 | MACD | -32.9 | Volume | 1,38,450 | Avg Vol 1Wk | 4,03,703 |
| Low price | 393 ₹ | High price | 1,028 ₹ | PEG Ratio | 1.10 | Debt to equity | 0.02 |
| 52w Index | 2.02 % | Qtr Profit Var | -10.6 % | EPS | 20.3 ₹ | Industry PE | 29.1 |
📈 Technical Analysis
- Chart Patterns: Stock has corrected sharply from highs (1,028 ₹) and is trading at 406 ₹, showing weakness and inability to sustain above moving averages.
- Moving Averages: Current price is well below both 50 DMA (514 ₹) and 200 DMA (628 ₹), confirming strong bearish bias.
- RSI: At 20.6, stock is deeply oversold, suggesting potential for short-term rebound but overall weakness.
- MACD: Negative (-32.9), confirming strong bearish momentum.
- Bollinger Bands: Price near lower band, indicating oversold conditions and possible stabilization.
- Volume Trends: Current volume (1,38,450) is significantly lower than average weekly volume (4,03,703), showing weak participation and cautious sentiment.
🎯 Momentum & Trade Zones
- Short-term Momentum: Strongly bearish, but oversold RSI may trigger a technical bounce.
- Support Levels: 393 ₹ (recent low), 380 ₹ (major support).
- Resistance Levels: 420 ₹ (near-term), 514 ₹ (50 DMA), 628 ₹ (200 DMA).
- Optimal Entry: 395–405 ₹ range if RSI stabilizes.
- Optimal Exit: 420–450 ₹ unless breakout above 514 ₹ is confirmed.
📊 Trend Status
Stock is reversing from highs with strong bearish signals, but oversold RSI suggests possible short-term rebound near support.
✅ Positive
- Strong ROCE (39.8%) and ROE (30.2%).
- DII holding increased (+1.02%), showing domestic institutional confidence.
- Low debt-to-equity ratio (0.02), indicating financial stability.
- EPS at 20.3 ₹ supports earnings visibility.
⚠️ Limitation
- Stock trading far below both 50 DMA and 200 DMA, showing technical weakness.
- Sequential PAT decline (52.1 Cr. vs 91.2 Cr.).
- Dividend yield modest at 0.29%.
📉 Company Negative News
- FII holding decreased (-0.69%), showing reduced foreign investor confidence.
- Quarterly profit declined (-10.6%).
- 52-week index gain only 2.02%, showing underperformance.
📈 Company Positive News
- DII holding increased (+1.02%), reflecting domestic investor support.
- PEG ratio of 1.10 indicates reasonable valuation relative to growth.
🏭 Industry
- Aviation sector trading at industry P/E of 29.1, higher than Blue Jet’s valuation (20.0).
- Sector supported by rising passenger demand and recovery in travel post-pandemic.
🔎 Conclusion
Blue Jet is technically reversing with strong bearish signals but oversold RSI suggests possible rebound near 393–405 ₹. Traders may consider cautious entry with exit around 420–450 ₹. Long-term investors should wait for breakout above 514 ₹ for bullish confirmation, given sequential profit decline and weak technical structure.