BSE trade ideas
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.
BSEThe #BSE is planning to reintroduce its #Sensex -30 #derivatives and is in the process of collecting feedback from members, the MD and CEO of the premier bourse, Sundararaman Ramamurthy, said on Friday.
The Sensex-30 derivatives products ( #options and #futures ), which were launched in 2000, had failed to generate much interest among investors compared to the rival exchange's Nifty-50 derivatives.
"We are trying to reintroduce Sensex-30 derivatives, and have started the consultation process by taking the feedback of market participants," Ramamurthy said at an Assocham-organised event here.
BSE LTD BULLISHBSE LTD is looking strong for upward journey. Price is taking support of 50 EMA in weekly time frame. Price is above 50, 100 and 200 EMA in daily time frame. There is trendline breakout with upper bollinger band challenged with high volume.
Weekly MACD uptick near zero line.
Daily MACD positive crossover near zero line.
Daily RSI is in momentum.