BLUEJET - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 3.6
| Stock Code | BLUEJET | Market Cap | 6,666 Cr. | Current Price | 384 ₹ | High / Low | 1,028 ₹ |
| Stock P/E | 22.7 | Book Value | 72.4 ₹ | Dividend Yield | 0.31 % | ROCE | 39.8 % |
| ROE | 30.2 % | Face Value | 2.00 ₹ | DMA 50 | 421 ₹ | DMA 200 | 563 ₹ |
| Chg in FII Hold | -0.69 % | Chg in DII Hold | 1.02 % | PAT Qtr | 40.2 Cr. | PAT Prev Qtr | 52.1 Cr. |
| RSI | 47.6 | MACD | -14.6 | Volume | 12,36,471 | Avg Vol 1Wk | 6,97,952 |
| Low price | 344 ₹ | High price | 1,028 ₹ | PEG Ratio | 1.25 | Debt to equity | 0.02 |
| 52w Index | 5.81 % | Qtr Profit Var | -59.4 % | EPS | 16.9 ₹ | Industry PE | 27.6 |
📊 Chart & Trend Analysis: BLUEJET is trading at ₹384, below its 50 DMA (₹421) and 200 DMA (₹563), indicating short-term weakness. RSI at 47.6 shows neutral momentum, while MACD at -14.6 confirms bearish bias. Bollinger Bands suggest price near the lower band, pointing to consolidation with downside risk.
📈 Momentum Signals: Volume (12.3L) is higher than 1-week average (6.9L), showing strong participation despite weak price action. RSI and MACD together highlight bearish momentum, though oversold levels may trigger a short-term bounce.
💹 Entry Zone: Strong support lies around ₹344–₹360. Accumulation near this zone offers risk-managed entry.
💰 Exit Zone: Resistance levels are ₹421 (50 DMA) and ₹563 (200 DMA). A breakout above ₹563 would confirm reversal and open upside toward ₹650–₹700.
🔎 Trend Status: The stock is consolidating with bearish bias. Sustained move above ₹421–₹563 backed by volume is required to regain bullish momentum.
Positive
- Strong ROCE (39.8%) and ROE (30.2%) highlight efficient capital use.
- EPS at ₹16.9 provides earnings strength.
- Low debt-to-equity ratio (0.02) ensures financial stability.
- DII holding increased (+1.02%), reflecting strong domestic institutional support.
Limitation
- Stock trading below both 50 DMA and 200 DMA indicates weak technicals.
- High volatility with sharp correction from ₹1,028 to ₹384.
- PEG ratio (1.25) suggests moderate valuation comfort but limited growth visibility.
Company Negative News
- FII holding decreased (-0.69%), showing reduced foreign investor confidence.
- Quarterly PAT declined (₹40.2 Cr vs ₹52.1 Cr), reflecting margin pressure.
Company Positive News
- Quarterly profit variation (+59.4% YoY) highlights operational improvement despite sequential decline.
- DII holding increased (+1.02%), showing strong domestic confidence.
Industry
- Aviation and logistics sector benefits from rising travel demand and cargo movement.
- Industry P/E at 27.6 indicates BLUEJET trades at a discount (P/E 22.7), offering valuation comfort.
Conclusion
⚖️ BLUEJET is fundamentally strong with high ROCE/ROE and low debt, but technically weak in the short term. Entry near ₹344–₹360 offers favorable risk-reward, while breakout above ₹563 is needed for bullish confirmation. Long-term investors may accumulate gradually, while traders should wait for volume-backed reversal signals.
Would you like me to extend this into a peer benchmarking overlay with aviation peers like IndiGo, SpiceJet, and Air India so you can compare BLUEJET’s momentum against the broader aviation sector rotation?