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Bharat Dynamics Limited (BDL): A High-Flying Opportunity!

Today, we're going to take a deep dive into the technical analysis of Bharat Dynamics Limited ( ), a government-owned company in India.

📈 Breaking the Rectangle Pattern 📈

On April 24, 2024, BDL broke out of a Rectangle pattern that was formed after making an all-time high. This rectangle can be interpreted as a Re-accumulation in stage 2.

🎯 New All-Time High and Retest 🎯
In last week, the stock broke its all-time high and formed a new all-time high. The breakout was accompanied by very high volumes. In the last 3 days, the stock has been coming down to retest the Breakout with low volume. This shows that the downward movement is without selling interest, which is a good sign.

💡 Trading Strategy 💡

We can plan an entry at 1955 to trade the breakout retest entry or you can say entry at the demand zone of the lower timeframe which is available on the 15-minute chart.
Keep a stop loss below 1897 which is around 3% down from the entry point.
The first target should be a 6% gain.
For riding the rally, trail your stop loss.

Thank you for your support, your likes, and comments. Feel free to ask if you have any questions. Remember, the journey of a thousand miles begins with a single step. So, let's step into the world of trading with confidence and determination! 🚀

Please note that this analysis is for educational purposes only. I am not a SEBI registered analyst. This is not intended as a trading or investment recommendation. Happy trading! 🎉