BSE Moves as Expected: Analyzing the Next Key Support Zone

https://preview.redd.it/n4d8g2kz7d9e1.jpg?width=1920&format=pjpg&auto=webp&s=d531861801b52417dbbbaebed1c082991fa61709 On December 20, I shared my analysis on BSE, anticipating a short-term downside move. As of now, the stock has dropped by more than 5%, in line with expectations. Looking ahead, the next probable support zone for the stock could be within the Fibonacci golden ratio range of 0.5 to 0.68. This range aligns with a previous resistance level that was breached and may now act as a support. Additionally, there is a trendline support and 40 day EMA in the same area. My personal view analysis is that the critical support range to watch is between ₹4,800 and ₹5,040.