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. Bharat Rasayan Limited (BHARATRAS) Technical Overview
Current Price: 10,498
Support Levels:
Immediate Support: 10,083
Strong Support: 8,954
Resistance Levels:
Immediate Resistance: 11,183
Strong Resistance: 12,183, 13,312
Indicators:
MACD: Negative momentum
RSI: Below 40 (oversold)
ADX: Weak trend at 28
Volatility:
ATR: Indicates increased volatility
Bollinger Bands: Near the lower band
Price Patterns:
Doji and Spinning Top patterns suggest market indecision.
Recent lower highs and lower lows signal bearish trend.
Trends:
26.51% below the 52-week high, indicating a bearish correction.
Gaps and Reversals:
Observed gap down on October 28 suggests selling pressure.
Conclusion: Caution is advised in a bearish environment, with careful monitoring of support and resistance levels essential for trading decisions.
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