-A quick look at the current situation of BSE500 prices according to graphical analysis!
-Monthly bearish bias, support levels are at: 22.5K and 22.2K. With the loss of the last support at 22.2K, prices will look for the 22K region.
-The daily chart is showing that prices are trying to reverse the dominant downtrend, where, we can see above the downtrend line being respected by prices. Just above, we have the long average that could also serve as resistance for prices not to advance further. If prices fail to stay above 23.56K, they will turn back to make a bottom test at 22.7K.
-So we have two scenarios for prices based on the daily chart! Pessimistic scenario is the red line. Optimistic scenario is the green line!
-Do your analysis and good business.
-Be Aware, If You Buy, Use Stop!
-See below for other graphic reviews!
-Monthly bearish bias, support levels are at: 22.5K and 22.2K. With the loss of the last support at 22.2K, prices will look for the 22K region.
-The daily chart is showing that prices are trying to reverse the dominant downtrend, where, we can see above the downtrend line being respected by prices. Just above, we have the long average that could also serve as resistance for prices not to advance further. If prices fail to stay above 23.56K, they will turn back to make a bottom test at 22.7K.
-So we have two scenarios for prices based on the daily chart! Pessimistic scenario is the red line. Optimistic scenario is the green line!
-Do your analysis and good business.
-Be Aware, If You Buy, Use Stop!
-See below for other graphic reviews!
