#BRNL WEEKLY CHART VIEW!!
Bharat Road Network Ltd. is consolidating in a narrow range; right above the support zone.
Presently the stock is trading below 20 SMA and likely to see short term bounce if the stock holds 27-29 zone.
Break below 27 on daily closing basis may extend further weakness in the stock.
Technical parameters looks weak as of now.
Keep a watch.
BharatRoadNetwork bounced from weekly support zone and strong volume last week shows buyer's interest in the stock.
RSI failing to enter oversold area is a sign of weakness as of now.
Likely to stay positive in the medium term until the stock stays above 30-32 zone.
Keep a watch.
Bharat Road Network Ltd.
The stock is trading in a descending triangle pattern & at a support zone in the daily chart.
Until the support of 38-37 is protected on the downside, we are likely to see a strong bounce back after the price breaks out of the triangle pattern.
Technical parameters look neutral to positive as of now.
KEEP AN EYE!!...
Bharat Road Network Ltd. engages in the development, operation, and maintenance of national and state highways. It engages in a single business segment of own, build, develop, design, operate, transfer road and related services. The company was founded on December 22, 2006 and is headquartered in Kolkata, India.
NSE
