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The stock of Blue Star closed on a mixed note on Thursday ahead of its FY14 results release on May 30. The stock has been in a strong uptrend from its February low of ₹134.5 and has risen 104 per cent. This uptrend is now nearing a crucial resistance in the ₹287 to ₹292 band. Inability to breach this resistance band can trigger a corrective fall to ₹250 and then to ₹230 in the coming weeks. On the other hand, if the stock manages to break ₹292 decisively, then it can extend its uptrend to ₹340.
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