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BSE Limited’s share price broke out of resistance at ₹770 last week and continued its uptrend. It made a fresh 52-week high of ₹874.35 on Wednesday and ended the day lower at ₹835, posting a loss for the day. However, the trend remains bullish, and the price fall is only a corrective decline. We anticipate a recovery where the stock will retest ₹874, especially on Thursday.
Thus, BSE can be considered for intraday buying. Go long at ₹835 and accumulate if the price dips to ₹825. Place initial stop-loss at ₹814. When the stock surpasses ₹855, tighten the stop-loss to ₹830. Liquidate the longs at ₹870. If BSE opens the session with a gap-up, wait for the price to soften to ₹835 before initiating long positions.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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