Stock to Buy- BLS International remains technical pick of Religare Broking : Expects more than14% upside for the stock

Stock to Buy- BLS International Services Limited share price remains amongst key technical picks of Religare Stock Broking

BLS International Services Limited share price that was down 2% in intraday trades on Thursday on the BSE however is still up close to 46% since its September lows.

On Thursday the BLS International share price opened at ₹431.60 on the BSE, marginally lower than previous close of ₹433.50. The BLS International share price there after slipped to intraday lows of ₹424.30.

BLS international remains technical pick of Religare

BLS International Services Limited remains the technical pick of Religare Stock Broking.

Religare expects more than 14% upside for the BLS International Services share price as has given a target price of ₹485.

BLS International share has been recommended to be accumulated in the range of ₹420-426.

Religare Stock Broking however has also recommended investors keeping a stop loss at ₹394 for BLS International Share price

Key reason why Religare expects upside for BLS International

Technical Rationale for Religare recommending BLS International share price is that- After a vertical upward rally, BLS International share price witnessed a correction from record high levels.

The consolidation in BLS International share price resulted in the formation of a rounding bottom pattern with relatively lower volumes, which denotes a lack of selling pressure. This week, the BLS International share price has registered a breakout from the mentioned pattern with supportive momentum suggesting resumption of the prior up trend, said Religare Broking technical analyst.

With more than 19 years of expertise, BLS International Services Ltd. is regarded as a worldwide trusted tech-enabled service partner for both citizens and governments. The business has made a name for itself as one of the key providers of passport, visa, consular, and citizen services. BLS International was founded in 2005 and has since set industry standards and provided complete solutions in a number of fields, such as retail services, biometrics, attestation, e-governance, and e-visa etc

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions