Bharat Forge (BHARATFORG) presents a tactical buy-side technical rationale holding above critical 200-DEMA support (~₹1,514) with bullish Stochastic RSI reversal from oversold 14.86 territory and CCI flashing buy signals at -113 despite bearish MACD, indicating exhaustion selling near pivot ₹1,720 amid auto ancillary rebound potential. Volume divergence confirms accumulation as price tests higher lows pattern above S1 ₹1,735, while Williams %R extreme oversold at -94 signals imminent bounce ahead of global OEM recovery. Sustained break above ₹1,763 pivot targets R1 ₹1,807-1,836 resistance (4-6% upside) aligning with neutral-to-bullish oscillator convergence.Warning-
Disclaimer– Registration granted by SEBI, membership of a SEBI recognized supervisory body (BSE) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Disclosure– Investments in securities market are subject to market risks, read all the related documents carefully before investing.