BALKRISIND

Technical View- As seen on the daily chart, the stock has been in a continuous downtrend since the beginning of the month, trading below its 14, 55, and 200-day EMAs, which indicates ongoing weakness. Both the MACD and Parabolic SAR also reflect a clear bearish trend. However, the RSI is hovering around 14, which could be an early sign of potential reversal or oversold conditions. On the weekly chart, the stock is seen taking support near its 200-day EMA around the 2380 level. Last week, the stock bounced back after making a low of 2391, and this week again, after hitting a low of 2388.20, the stock is currently trading around 2399.50. A similar reversal was observed on April 13, 2025, when the stock made a low near 2360 and later rallied to hit a high of 2816 on May 4, 2025. Currently, the stock is still holding above its 200-day EMA, which indicates that long-term support is intact. From a long-term investment perspective, a buy-on-dip strategy can be considered with a stoploss of 2350. If the stock sustains and holds near its 14-day EMA in the coming sessions, it may gradually retest the 2500 level, and with sustained buying momentum, levels of 2600–2650 can also be seen in the near future.