📉 BSE Ltd. – Weakness, Bearish Divergence, Support Test

🔹 Price Action CMP: ₹2,157 (-7.01%) – strong selling this week. Price has been in a descending channel since topping near ₹2,950. Immediate support being tested around ₹2,100–2,050 zone. 🔹 Technical Observations Bearish RSI Divergence: Clear divergence from March top → decline confirmation. Trendline Breakdown: Price broke below rising channel support; trading in corrective phase. Supports Below: Strong horizontal support at ₹2,050–1,985, followed by ₹1,690–1,600 trendline zone. Resistance Above: ₹2,580 remains major supply area (previous top breakdown). 🔹 Key Levels Immediate Resistance: ₹2,300 → ₹2,580. Immediate Support: ₹2,050. Major Support: ₹1,690–1,600 (long-term rising trendline). 🔹 Indicators RSI ~47: In bearish zone, trending down → selling pressure dominates. Momentum: Weak; every bounce is facing resistance. Volume: Distribution phase, selling on rallies. 🔹 Strength & Risk ❌ Bearish RSI divergence + price breakdown. ❌ Lower highs and lower lows on weekly. ✅ Long-term trendline support around ₹1,600–1,700 could offer a strong base. 🔹 Outlook Short Term: Weakness persists unless closes above ₹2,300. Medium Term: Correction may extend to ₹2,050 and possibly ₹1,700. Reversal Trigger: Sustained close above ₹2,580 needed for fresh uptrend. 📌 Strategy Traders: Avoid fresh longs until ₹2,300–2,350 is reclaimed. Investors: Can wait for ₹2,050 or ₹1,700 zones to add gradually. 📢 Disclaimer: This is educational analysis, not investment advice. 🧑‍💼 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332).