After the breakout of the down trend line with volume support it tested the small resistance level (534-557) and closed above it. It's now consolidating in a tight range. A daily close above 598 levels with volume support would confirm the start on and uptrend and can test the upper resistance levels.
Disclaimer: This is just an analysis. Trade on your own risk...
11 week base - cup and handle
shakeout in the middle of base on weekly chart.
it changed character to bullish after breaking upper trendline.
then it gave pocket pivot on 20/11/20 off 50 MA which was also low cheat entry.
now it again gave continuation pocket pivot off 10 MA showing sign of strength.
Looking at 600 min and then even further
BSE is showing confluence of many factors a once.
1. Support from 200 DMA
2. Low cheat
3. Pocket pivot
4. Pullback and support from 50 DMA
Good swing trade.
After long sideways consolidation, it changed the character. Then it formed a low cheat in form of pullback to 50 DMA.
Beautifully rounding out on weekly chart.
Then broke out today on high volume.
Tgt - at least 600 and 620
Nice 14 week base showing signs of accumulation. good fundamentals. holding 50 DMA.
Pocket pivot on Thursday with good follow through. Entry above 1274.
Shows the change of character with pullback entry on 50 DMA.
