During the previous week, the stock prices had confirmed a bullish reversal pattern breakout known as ‘Double Bottom’
The apt strategy would be to focus on Themes that are likely to perform during the sector churning
On a long-term basis, crude prices have a positive relationship with the Indian market
On the downside, any breach below the last session low of 32000 odd zone could dampen the sentiments further
This ongoing weakness has effect large caps more this week
By breaking below the key support the prices have confirmed a ‘Cup N Handle’ bearish breakdown
On the daily chart, we are witnessing a structural bottom formation that is witnessed with good increase in volumes this augurs well for the bulls
This is expected to further continue in the coming quarters
The start of Q3 results was well supported by the good results of evergreen IT sector & commentary
Tradebulls is bullish on BEL with a price target of Rs 223 per share.
