BSE 30-Min Chart Analysis
Current Situation:
Price: 2738 (down 0.15%)
Adaptive MA (20): 2753.57 — price is below the MA, bearish bias
Price is sitting at/near the lower support zone (~2725–2740)
Key Levels
Level - Type
2808.20 - Resistance
2782.30 - Resistance
2754.90 - Resistance
2753.57 - Adaptive MA
2738.00 - Current Price
2712.80 - Support
2594.50 - Major Support / Bearish Target
Chart Annotation Reading
The chart has two drawn scenarios:
🔵 Bullish Arrow (lower probability): A bounce from the lower support zone toward ~2800–2808, if price holds the purple demand zone.
🔻 Bearish Arrow (higher probability): A breakdown below the lower purple support zone (~2725) leading to a sharp drop toward 2594.50 — roughly ~140 points downside.
Maximum Probability Prediction
📉 Bearish — ~65–70% probability
Reasons:
* Price is in a clear downtrend (lower highs, lower lows since Feb 18)
* Trading below Adaptive MA — no bullish momentum
* The lower support zone (~2725–2733) has been tested multiple times — repeated tests weaken support
* Volume spike on Feb 16 was bearish (red), suggesting distribution
* The descending trendline from Feb 18–23 is acting as dynamic resistance
Bearish target: 2594.50
Invalidation (bullish flip): Clean break and close above 2782–2808
Current Situation:
Price: 2738 (down 0.15%)
Adaptive MA (20): 2753.57 — price is below the MA, bearish bias
Price is sitting at/near the lower support zone (~2725–2740)
Key Levels
Level - Type
2808.20 - Resistance
2782.30 - Resistance
2754.90 - Resistance
2753.57 - Adaptive MA
2738.00 - Current Price
2712.80 - Support
2594.50 - Major Support / Bearish Target
Chart Annotation Reading
The chart has two drawn scenarios:
🔵 Bullish Arrow (lower probability): A bounce from the lower support zone toward ~2800–2808, if price holds the purple demand zone.
🔻 Bearish Arrow (higher probability): A breakdown below the lower purple support zone (~2725) leading to a sharp drop toward 2594.50 — roughly ~140 points downside.
Maximum Probability Prediction
📉 Bearish — ~65–70% probability
Reasons:
* Price is in a clear downtrend (lower highs, lower lows since Feb 18)
* Trading below Adaptive MA — no bullish momentum
* The lower support zone (~2725–2733) has been tested multiple times — repeated tests weaken support
* Volume spike on Feb 16 was bearish (red), suggesting distribution
* The descending trendline from Feb 18–23 is acting as dynamic resistance
Bearish target: 2594.50
Invalidation (bullish flip): Clean break and close above 2782–2808
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.
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.