BEL : Key Support & Resistance Levels at Current Price of 286.90

3 hari lalu

BEL : Key Support & Resistance Levels at Current Price of 286.90

As BEL trades around 286.90, it shows signs of weakness, and it's essential to focus on the following support and resistance levels for potential trading strategies:

Resistance Levels:

Immediate Resistance: 295 – This level may act as a barrier for upward movement.

Psychological Resistance: 300 – A significant psychological level that traders watch; a breakout above this could attract more buying interest.

Key Resistance: 307 – A crucial level for confirming bullish momentum; a strong close above here may indicate a sustained upward trend.
Support Levels:

Crucial Support: 285 – This key level may provide buying interest. A break below this could lead to further downside.

Stronger Support: 275 – Acts as backup support, offering a safety net for traders.
Lower Support: 267 – If tested, it would indicate significant selling pressure, warranting close attention.

Outlook: BEL appears to be weak at the moment. Holding below the 285 support could lead to further declines, potentially testing 275 and 267. A bounce back above 285 may provide a chance for a retest of 295, but caution is advised given the current weakness.

Disclaimer: I am not a SEBI Registered Research Analyst (RA). This analysis is for educational purposes only and should not be considered as investment advice. Please conduct your own research or consult a financial advisor before making any trading decisions.


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