In this blog, we are going to discuss BSE Stock. Is there more decline coming in BSE?
The stock is trading in a declining trend. After reaching a high of around 3000, the stock has been running in a continuous decline. In between, the stock stayed too volatile and moved in a wider range. Recently, the stock has made a low around 2370 and taken support.
If we look at the daily chart, then there is a formation of Head & Shoulder pattern formation can be seen. The strong support zone or neckline of this pattern lies between 2330 to 2370. If the stock comes to the 2370 zone and sustains below this, then there will be more fall to be seen towards 2200 to 2100.
The stock is having an interim resistance around 2580 as of 21 July day closing. If the stock price moves above that, then a momentum towards 2650 to 2750 is possible along with support around 2500. Today’s closing is 2521, which is 60 points away from the probable interim resistance. Let’s see how the price action behaves in BSE Stock. This was a technical chart-based price momentum analysis for investors and traders.
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