BSE LTD - Daily Chart
Prior Patterns:
Ascending Triangle: From September 2024 to early January 2025, an ascending triangle formed, leading to an upward breakout.
Parallel Channel: After the ascending triangle breakout, the price moved up in a parallel channel for a short period in January 2025.
Box Consolidation: From late January to mid-March 2025, the stock consolidated within a box or rectangular range.
Current Pattern: A "Cup and Handle" pattern has formed more recently.
Cup: Formed from roughly mid-March 2025 to late April 2025, with the low around 3,700.
Handle: A smaller pullback (handle) formed in early May 2025.
Breakout: The price has broken out from this Cup and Handle pattern above the neckline around 5,781.25 - 5,786.25.
Volume: Volume appears to have increased on the breakout from the Cup and Handle.
Target: The depth of the cup (approximately 2,057.90 points) is projected upwards from the breakout point, suggesting a target of around 7,822.15.
Support: The neckline of the Cup and Handle (around 5,781.25 - 5,786.25) is now the key support.
Resistance: The recent high around 6,847.50 is the immediate resistance, followed by the projected target.
Interpretation: The chart shows multiple bullish patterns. The latest Cup and Handle breakout indicates a continuation of the uptrend. The stock is headed towards its target of 7,822.15, with the 5,781.25 level acting as crucial support.
Prior Patterns:
Ascending Triangle: From September 2024 to early January 2025, an ascending triangle formed, leading to an upward breakout.
Parallel Channel: After the ascending triangle breakout, the price moved up in a parallel channel for a short period in January 2025.
Box Consolidation: From late January to mid-March 2025, the stock consolidated within a box or rectangular range.
Current Pattern: A "Cup and Handle" pattern has formed more recently.
Cup: Formed from roughly mid-March 2025 to late April 2025, with the low around 3,700.
Handle: A smaller pullback (handle) formed in early May 2025.
Breakout: The price has broken out from this Cup and Handle pattern above the neckline around 5,781.25 - 5,786.25.
Volume: Volume appears to have increased on the breakout from the Cup and Handle.
Target: The depth of the cup (approximately 2,057.90 points) is projected upwards from the breakout point, suggesting a target of around 7,822.15.
Support: The neckline of the Cup and Handle (around 5,781.25 - 5,786.25) is now the key support.
Resistance: The recent high around 6,847.50 is the immediate resistance, followed by the projected target.
Interpretation: The chart shows multiple bullish patterns. The latest Cup and Handle breakout indicates a continuation of the uptrend. The stock is headed towards its target of 7,822.15, with the 5,781.25 level acting as crucial support.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.