Bandhan Bank Limited (BANDHANBNK) Stock - Complete Technical Analysis - Oct 24, 2024

Bandhan Bank Stock Analysis Bearish Signals Key Support & Resistance Levels

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Bandhan Bank's stock price at 180.66 is showing signs of weakness, trading close to its 52-week low of 169. The stock has broken below its moving averages, including the 200-day EMA, which indicates bearish momentum. The Bearish Harami pattern further confirms the downward pressure. RSI signals that the stock is nearing oversold levels, and MACD is also in a bearish crossover, implying limited upward momentum in the short term. Support is seen near 170, while resistance can be expected around 190. With the ADX indicating a weak trend, traders should be cautious. Short-term bearish sentiment is evident, and the Awesome Oscillator also supports this view. A reversal may occur if the price holds above the 170 support level, so keep an eye on volume and any bullish crossovers in the MACD.