According to reports from Business Standard, BSE and Multi Commodity Exchange of India (MCX) have witnessed a notable correction in recent months, with stock prices declining around 27% each from their respective highs in May 2026. BSE shares fell to a four-month low of ₹3,325 on Tuesday after Jefferies and Nuvama downgraded the stock, citing risks related to the Closing Auction Session (CAS). Nuvama downgraded BSE to 'Hold' with a target price of ₹3,240 from its earlier projection of ₹4,090, while Jefferies gave an 'underperform' rating with a target price of ₹2,940. As reported by Business Standard, MCX was trading down 2.5% at ₹2,983 on Wednesday, while CDSL remained flat at ₹1,335.
According to Hitesh Rathi, Technical Analyst at Angel One, BSE stock has been under pressure since May this year, resulting in a significant deterioration in its overall technical structure. The analyst believes that the recent price breakdown below ₹3,450 has further accelerated downward pressure on the stock, opening price targets up to ₹3,150 levels. As reported by Business Standard, Rathi explains that while the stock remains in an established downtrend with no signs of reversal visible on the charts, strong support exists in the ₹3,150-3,100 band. This zone previously acted as resistance and now likely to act as support, following the principle of polarity. The analyst recommends 'accumulation on dips' as a trading strategy as long as the support band holds.
According to Rathi's analysis reported by Business Standard, MCX established a strong 'Multi-Brick Support' in the ₹2,650–2,600 band on its 'Renko' charts following a sharp correction. The analyst notes that this support formation has been followed by a 'W-pattern' breakout on the Daily 1% Renko chart, providing further confirmation of strong demand at lower levels. A bullish crossover of the 20-brick Exponential Moving Average (EMA) above the 40-brick EMA further reinforces the improving momentum and reversal setup. The ₹2,650–2,600 zone gains additional significance as it has now transitioned from a prior resistance area into a potential support zone, with a successful retest followed by formation of a higher high providing stronger confirmation of the trend reversal.
As reported by Business Standard, Central Depository Services (India) (CDSL) has been undergoing a prolonged phase of consolidation but the technical setup is now beginning to improve. The analyst believes the stock appears poised to scale higher levels after triggering an Inverse Head & Shoulders breakout on its higher-timeframe Daily 3% Renko chart, following the establishment of strong support in the ₹1,150–1,130 band. The formation of a higher-high and higher-low reinforces an improving trend and points towards a shift in control from sellers to buyers. Given the positive technical structure, ongoing dips can be utilized as an opportunity to enter the stock at relatively favourable levels.
