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Bhansali Engineering Polymers Ltd.Bhansali Engineering Polymers Ltd.Bhansali Engineering Polymers Ltd.

Bhansali Engineering Polymers Ltd.

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Weekly chart of Bhansali Engineering Polymers Ltd (BEPL) on NSE🔍 Technical Analysis Summary 1. Current Price & Trend • Current Price: ₹109.27 • Price Action: • Price is sitting just above the 0.786 Fibonacci level (~₹107.64). • It has pulled back from recent highs near ₹152. • Currently hovering near the ascending trendline support from the 2020 lows. ⸻ 2. Support & Resistance Levels 📉 Support Levels • Trendline Support: Rising trendline from 2020 (~₹107–₹110 range). • Fibonacci Support Levels: • 0.786 Fib: ₹107.64 ✅ (Currently acting as support) • 1.000 Fib: ₹88.85 (Major support if breakdown occurs) 📈 Resistance Levels • Immediate Resistance: • 0.702 Fib: ₹115.02 • 0.618 Fib: ₹122.39 • 0.5 Fib: ₹132.76 • Major Resistance: • ₹152.08 (0.28 Fib) – previous swing high ⸻ 3. Chart Patterns • Symmetrical Triangle / Ascending Triangle Formation: • Price is coiling within a tightening range between horizontal resistance and rising trendline. • A breakout above ₹122–₹132 could indicate bullish continuation. • Breakdown below ₹107 and especially ₹88.85 may trigger bearish momentum. ⸻ 4. Volume Analysis • Volume is relatively subdued recently. • Previous price surges have been supported by spikes in volume — important to watch for volume breakout confirmation. ⸻ 🧭 Possible Scenarios ✅ Bullish Scenario • Hold above ₹107 support and break above ₹115–₹122 zone. • Target: ₹132 (0.5 Fib) → ₹152 (swing high) → ₹176 → ₹200+ ❌ Bearish Scenario • Breakdown below ₹107 with volume. • Breakdown of trendline → ₹88.85 (strong horizontal + Fib support) • Deeper downside if ₹88 breaks → ₹34.58 (1.618 Fib extension) ⸻ 🧠 Final Thoughts • The chart is at a make-or-break zone, testing strong confluence of support (Fib 0.786 + rising trendline). • Traders may watch ₹107 closely for support. • Investors should keep an eye on a breakout above ₹122 with volume for potential re-entry.
NSE:BEPLLong
by delzanmazkoori
1
BEPL Trading Within Weekly Demand ZoneBEPL is currently trading at ₹105, which is within its weekly demand zone range of ₹105.49 (baseHigh) to ₹96.43 (baseLow), identified on 21st June 2024. Since the price remains inside this zone, it could act as a potential accumulation area where buyers may step in. A bounce from this zone might indicate renewed demand, while a breakdown below ₹96.43 could signal further weakness. Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Please perform your own due diligence or consult a financial advisor before making any investment or trading decisions.
NSE:BEPLLong
by rush12799
BEPL Trading within Tested Demand Zone of ₹133.7 to ₹118.1BEPL is currently trading at ₹136.13, revisiting a previously tested demand zone between ₹133.7 and ₹118.1, which was established on July 5, 2024. This tested zone may attract renewed buying interest, as previous investor activity indicated potential support in this range. Monitoring price behavior in this area could provide insights into future movements, with possible signs of a bullish response if demand is sustained.
NSE:BEPLLong
by rush12799
BEPL - 15% upside potential - Multiyear BO Setup!Price Analysis & Overview: 1. Good volumes 2. Strong Breakout and Retest done 3. Good candle formations. Trade Plan: Entry = 160 SL = 10-12% TP = 20-25% - Stay tuned for further insights, updates and trade safely! - If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading! Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Views are personal. I share whatever I do. Please, do your due diligence before investing. Thanks & Regards, Anubrata Ray
NSE:BEPLLong
by SuperNova396
4