BSL Ltd. – Update !!!

BSL Ltd has started showing signs of revival in up-trend after a long hiatus. The medium term trend has turned positive after taking supports at significant long
term trend lines. The stock has also shown good positive divergence in the charts and is now giving early signs of forming a very strong double bottom on the long term charts and this could be significant development – technically speaking. The medium term trend has turned positive after showing positive divergence and with the short term trend, that was already positive now picking up momentum too, long, medium and short term trends are all looking good. The risk to reward for this trade (personally speaking) appears to be very good as there seems to be limited downside for the medium term and upside looks formidable. Fundamentally also in the last two quarters, there appears to be improvement in earnings and with friendly govt. in place in Rajasthan (though personally never a great reason), it would be interesting to see if something more can come out. All said and done this is my personal take and one should not read too much into it.

God Bless !!!