BSE trade ideas
BSE still has potential upside?After a fantastic run in a short period, BSE has been consolidating between the range of 2200-2300. In the last trading session's close, the price has taken support at the crucial level of 78.6% retracement. A high above today's close with volume support can take the stock back to its previous high of 2582
Entry - 2320
Stop Loss - 2210
Target - 2580
BSE - Stock Analysis🚀 **Exciting Stock Opportunity: BSE - STWP View**
📈 **PriceVol**: *Bullish*
- *Last Few Sessions*: Rising Price with Surging Volume
🔥 **OneDay**: *Strong Bullish*
- *Latest Tick*: Robust Price Surge Supported by Strong Volume
📈 **DonchianBand**: *Strong Bullish*
- *Trending Up*: Consecutive New Highs Indicate a Strong Upward Trend
💡 **Bollinger Bands**: *Strong Bullish*
- *Positive Breakout*: Indicative of Favorable Momentum
📊 **Daily Chart**: *Bullish*
- *Heikin Ashi Pattern*: Bullish Continuation Pattern Formed
📅 **Weekly Analysis**: *Strong Bullish*
- *Candlestick Pattern*: Bullish Gap-up at a High Level, Momentum Sustained
🚀 **Trade Recommendation**:
- **Buy above**: ₹2350
- **Stop Loss**: ₹1914
🌐 *Unlock the potential for substantial gains with this thriving stock! Act now and capitalize on the upward momentum.*
BSE is bouncing.BSE Ltd. is the Asia’s 1st and the one of the largest stock exchange in the world. The company provides efficient and transparent market for trading in equity, currencies, derivatives & Mutual funds. S&P BSE SENSEX is India’s most widely tracked stock benchmark index.
BSE CMP is 608.55. Negative aspects of the company are high valuation (P.E. = 37.4), declining annual net profits & FIIs are decreasing stake. Positive aspects of the company are improving cash from operations, no debt and zero promoter pledge.
Entry can be taken after closing above 622. Targets in the stock will be 667 & 712. Long term target in the stock will be 759. Stop loss in the stock should be maintained at closing below 540.
BSE Long - Inverted H&SInv HnS breakout on daily. See neck line in orange. Since the low on 31st Mar 2023, its following a higher high, higher low pattern.
Go long with a possible target of 596, 622 and 709 (which incidentally is the target as per the depth of the head)
Stop loss - Either when the neckline breaks down, or when the previous swing high (red horizontal line) at 560'ish is taken out.
A slightly steeper stop loss might be taken in this specific case, since a lot of downward sloping lines have been taken out on 31st May and 1st June, and these might act as more supports.