Bandhan Bank Limited (BANDHANBNK) Stock - Complete Technical Analysis - Nov 19, 2024

Bandhan Bank Stock Technical Analysis: Bearish Trend or Reversal Opportunity BANDHANBNK Stock Upd

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 (BANDHANBNK) stock is in a bearish phase, trading at 167.61, well below its 52-week high of 263.1, indicating a major drop. This suggests a possible continuation of the downtrend, especially after the formation of a bearish Shooting Star pattern. On the technical front, the MACD is negative, and the RSI is oversold, which could signal a potential reversal, but caution is needed. The ATR is high, indicating volatility, and traders should look for any signs of price consolidation at support levels near 164. Key resistance is found at the EMAs of 171.99 and 176.86. The stock's current weakness in oscillators suggests that further downside may be possible, and traders should monitor for price stabilization around 164-165 before considering long positions.