“Driving Towards a Bright Future - Blue Star's Growth Potential Based on Analyst Estimates and Technical Analysis”

Blue Star, a leading provider of commercial and industrial air conditioning and refrigeration solutions in India, stands poised for significant growth in the coming years. This positive outlook stems from a combination of favorable market conditions, strong financial performance, and a strategic focus on innovation and expansion. Analysts from reputed financial institutions have expressed a resounding bullish sentiment towards Blue Star stock. Their estimates paint a picture of a company with robust growth prospects and an undervalued share price.

OVERVIEW

Blue Star Share price is ₹969.65 which is ₹645.35 below 52-week high of ₹1,615.00 and ₹267.95 above 52-week low of ₹701.70

52-WEEK HIGH LOW

·       Blue Star 52-Week High is ₹1,615.00

·       Blue Star 52-Week Low is ₹701.70

ALL-TIME HIGH

·       The all-time high or the highest price that Blue Star shares have ever touched was ₹1,615.00 and this occurred on Mon 20 Mar 2023.

·       The highest closing price at which Blue Star shares have ever closed was ₹1,517.50 recorded on Fri 10 Mar 2023.

bLUE STAR SHARE PRICE HISTORY TABLE FROM 1990 TO 2023

Analysing the Impact of Investing in Blue Star

Blue Star Shares price in the year 1990 was ₹5.92. If you had invested ₹10,000.00 in Blue Star Shares in 1990, in 33 years, your investment would have grown to ₹16.38 Lakh by the end of 2023. This represents a positive return of 16279.2% from 1990 to 2023, with a compound annual growth rate (CAGR) of 16.7%.

Analyst Overview of Blue Star Stock

The image you sent shows that 72% of analysts from Groww recommend buying Blue Star stock, while 22% recommend holding and 6% recommend selling. This is a strong buy signal, and it suggests that analysts believe that Blue Star stock is undervalued and has the potential to outperform the market in the coming months.

There are a few factors that may be contributing to the bullish outlook on Blue Star stock. First, the company is well-positioned to benefit from the strong growth in the Indian economy. Blue Star is a leading provider of commercial and industrial air conditioning and refrigeration solutions, and demand for its products is expected to increase as businesses expand and invest in new infrastructure.

Second, Blue Star has a strong track record of profitability and growth. The company has reported consistent earnings growth in recent years, and it has a healthy balance sheet. This suggests that Blue Star is well-managed and has the resources to execute on its growth plans.

Finally, Blue Star is trading at a relatively attractive valuation. The company's stock has underperformed the market in recent months, and it is now trading at a price-to-earnings ratio below its historical average. This suggests that there is potential for upside in the stock price

What the Technicals Suggest for Blue Star Share Price Momentum

Cross over strategy

50 SMA is the moving average (red) @ 888.40

200 SMA is the moving average (blue) @ 772.65

The analysis is from the year Jan 2017 to November 2023.

There is a resistance @ 953.90

There is a support @ 703.35

The technical chart shows that Blue Star is bullish and has a sideways trend, with the 50-day moving average crossing above the 200-day moving average in early 2022. The stock price has increased from 645.80 in the year 2022 to the current Price of 969.65 as of November 19 2023. The key support is at 703.35, which has held multiple times on the downside. The resistance is at 953.90, which has acted as a formidable overhead barrier on previous up-moves. The MA indicator shows signs of recovery from oversold zones. Based on this analysis, the stock is in a Uptrend but nearing short-term support. Long-term investors could accumulate on dips around 703.35 while maintaining a stop-loss below 700. Traders can look to buy around 703.35 and book profits as the stock approaches 953.90 on rally attempts. A break below 703.35 could lead to a decline towards 650. So, the strategy involves buying around supports and booking profits around resistances using the 50-day and 200-day moving averages as a reference.