BDL Technical Analysis: Potential Reversal Setup Ahead...!

📊 Chart Observations (Daily Timeframe):

🔻 Recent Trend:
Stock has been in a steady downtrend since its June peak, witnessing consistent lower highs and lower lows.

🛑 Support Zone:
Current price (₹1,443) is hovering near the critical 0.618 Fibonacci retracement level (\~₹1,400) – a strong demand zone historically respected by buyers.

✅ Bullish Reversal Zone:
Price is showing signs of base-building around this key support, which could act as a springboard for a bounce.

📈 Resistance Levels to Watch:

* Immediate resistance: ₹1,500–₹1,550 (0.5 Fib level)
* Major upside target: ₹1,900–₹2,000 zone (previous supply area)

🕰️ Pattern Formation:
Chart hints at a potential U-shaped recovery if ₹1,400 holds firmly, aligning with the projected upward arrow shown.

🔑 Risk Management:

* Stoploss: Below ₹1,250 (clean invalidation level)
* Reward-to-Risk looks favorable with nearly 30–35% potential upside.


⚡ Key Takeaway

If BDL sustains above the ₹1,400–₹1,420 demand zone, we could see a strong reversal rally towards ₹2,000+ in the coming weeks. However, a breakdown below ₹1,250 may extend weakness toward ₹1,200 levels.


🔥 Trading Idea:

Buy on dips near ₹1,420–₹1,440 with SL ₹1,250
Target: ₹1,900–₹2,000