BSE - Listing Cycle completed, ready for fresh uomove...

BSE - the oldest and largest, in terms of number of companies registered, Stock Market Exchange has been listed on its rival exchange NSE on 3rd February 2017 giving handsome listing profits to the traders, opened at 1085, hitting high of 1200 in the intraday itself and then closed at 1069.2 after hitting the low of 1065.1. The candle discovered was a inverted hammer . A clear indicator of down move.

The stock really went down till 3rd March 2017 hitting low of 886.50. Hefty 25% approximate from the high listing day - 1200. The stock was in steep down move. The move halted when the exchange declared the registration fees on the exchange for the companies last week. The stock opened with the same low at 890 on 6th of March this week and hit the high of 954.75. Almost 7% in intraday. The candlestick pattern created on the charts was a bullish engulfing and that is also at extreme bottom. After that, for two days the stock remains sluggish, rather say negative and hit the low of 920.95 on 8th March. I was observing the stock and was in the search of Bullish Continuation pattern and I got the chance today. After Bullish Engulfing , the stock also posting today a short version of rising 3 continuation pattern.

BSE stock opened today on NSE at 923.85 and hit the low of 917.35. Then it started reverse journey towards upside and hit the high of 961 in no time. If it closes above 965 then it will be a strong confirmatory signal of Buying initiated in the counter. The bull run will confirmed even it closes above 850 on the daily basis.

Let's go long in the counter and enjoy the profits. This is for positional trading and even for a bit short term of 2-3 months. If the market remain positive then the counter may give handsome returns over the period of time...

Happy Trading...Trend is Friend...


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