BSE has corrected from high of 2373.70 down to 1805.
Key Retracement Data:
1. Retracement from 1425.55 to 2373.7 (29/11 to 15/12 dates in 2021)
- Price went down to almost touch 61.8 levels and then on consolidating in a healthy way
- 38.2% retracement is about to get breached at 2011.5
2. Correction phase Retracement from 2373.7 to 1805 (15/12 to 20/12)
- Price is about to breach 31.8% of level at 2023
- Price has risen today with heavy volumes
Price Action and Volume Data:
1. Strong Green Candle with high volume on daily basis
2. On Weekly basis, this weeks candle may try to breach inside candle pattern of the candle 2 weeks back. Along with that, volume is also about to remain increased
RSI:
1. RSI cross over on daily basis
2. RSI cross over taking place on weekly basis as well
Chart Pattern:
1. On Weekly chart, it is like a flag pattern
Buy and Hold for Medium to Long Term
Key Retracement Data:
1. Retracement from 1425.55 to 2373.7 (29/11 to 15/12 dates in 2021)
- Price went down to almost touch 61.8 levels and then on consolidating in a healthy way
- 38.2% retracement is about to get breached at 2011.5
2. Correction phase Retracement from 2373.7 to 1805 (15/12 to 20/12)
- Price is about to breach 31.8% of level at 2023
- Price has risen today with heavy volumes
Price Action and Volume Data:
1. Strong Green Candle with high volume on daily basis
2. On Weekly basis, this weeks candle may try to breach inside candle pattern of the candle 2 weeks back. Along with that, volume is also about to remain increased
RSI:
1. RSI cross over on daily basis
2. RSI cross over taking place on weekly basis as well
Chart Pattern:
1. On Weekly chart, it is like a flag pattern
Buy and Hold for Medium to Long Term
Trade closed: target reached
Technical pattern had a potential to take it to 2800 which is over breached today already. It may retrace now.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.