BLUEJET - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 4.2
| Stock Code | BLUEJET | Market Cap | 8,183 Cr. | Current Price | 471 ₹ | High / Low | 1,028 ₹ |
| Stock P/E | 33.0 | Book Value | 78.4 ₹ | Dividend Yield | 0.26 % | ROCE | 26.5 % |
| ROE | 19.9 % | Face Value | 2.00 ₹ | DMA 50 | 434 ₹ | DMA 200 | 512 ₹ |
| Chg in FII Hold | -0.25 % | Chg in DII Hold | -0.14 % | PAT Qtr | 64.3 Cr. | PAT Prev Qtr | 40.2 Cr. |
| RSI | 57.7 | MACD | 12.8 | Volume | 8,34,327 | Avg Vol 1Wk | 18,07,731 |
| Low price | 325 ₹ | High price | 1,028 ₹ | PEG Ratio | 2.09 | Debt to equity | 0.03 |
| 52w Index | 20.8 % | Qtr Profit Var | -41.6 % | EPS | 14.3 ₹ | Industry PE | 31.6 |
📈 Chart & Trend Analysis: BLUEJET is trading at ₹471, above its 50 DMA (₹434) but below its 200 DMA (₹512), indicating short-term bullish momentum but long-term consolidation. RSI at 57.7 suggests healthy momentum without being overbought. MACD at 12.8 shows positive divergence, supporting upward bias. Bollinger Bands place the price near the mid-to-upper band, signaling strength with room for further upside.
📊 Volume Trends: Current volume (8,34,327) is below the 1-week average (18,07,731), reflecting reduced participation and lack of breakout conviction.
🔑 Support & Resistance: Strong support lies at ₹434 (50 DMA) and ₹325 (recent low). Resistance is near ₹512 (200 DMA) and ₹600 (psychological level). Optimal entry zone: ₹450–₹460. Exit/profit booking zone: ₹500–₹520.
📉 Momentum Signals: RSI and MACD confirm bullish momentum. Short-term signals favor accumulation on dips, with exits around resistance levels.
📌 Trend Status: The stock is currently trending upward in the short term but consolidating in the broader view.
Positive ✅
- Strong ROCE (26.5%) and ROE (19.9%) highlight efficient capital use.
- Low debt-to-equity ratio (0.03) ensures financial stability.
- PAT improved (₹40.2 Cr → ₹64.3 Cr), showing earnings growth.
Limitation ⚠️
- Stock trading below 200 DMA indicates long-term weakness.
- Volume below average suggests lack of strong buying momentum.
- PEG ratio of 2.09 indicates relatively expensive growth prospects.
Company Negative News ❌
- Decline in FII holding (-0.25%) reflects reduced foreign investor confidence.
- Decline in DII holding (-0.14%) shows weaker domestic institutional support.
Company Positive News 🌟
- PAT growth quarter-on-quarter highlights operational improvement.
- EPS of ₹14.3 supports earnings visibility.
Industry 🏭
- Aviation sector trades at industry PE of 31.6, making BLUEJET slightly expensive compared to peers.
- Sector growth driven by rising passenger traffic and fleet expansion.
Conclusion 📌
BLUEJET is showing short-term bullish momentum above its 50 DMA but remains consolidative below the 200 DMA. Fundamentals are supportive with strong ROCE and low debt, though institutional selling and stretched valuations pose risks. Optimal strategy: accumulate near ₹450–₹460 support zones and consider profit booking near ₹500–₹520. Trend remains upward in the short term but consolidative in the broader view.
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