Brigade Shares: Technical Weakness Points To ₹900 Support, Says SEBI Analyst

2025-09-23 05:00:45

(MENAFN- AsiaNet News)

Real estate developer Brigade Group announced that it had signed a joint development agreement for a new residential project in South Bengaluru, with an estimated gross development value (GDV) of ₹1,200 crore

In a regulatory filing on September 22, the company said it will be developing a residential project spread over 7.5 acres in Banashankari, 5th Stage, South Bengaluru.

Earlier this month, the Bengaluru-based realty company signed a joint development agreement for a luxury residential project in East Bengaluru, with an estimated gross development value of around Rs 2,500 crore.

The stock has seen a 5% fall over the last month.

Analyst Take

SEBI-registered analyst Financial Sarthis said Brigade's chart structure is very weak. They flagged a triangle pattern formation and identified support near ₹900 on the downside, which is a golden ratio zone.

They advised traders to monitor whether the stock sees a rebound from this level. If Brigade breaks and closes below ₹900, they see the possibility of further downside.

What Is The Retail Mood?

Data on Stocktwits shows that retail sentiment has been 'neutral' for six months.

Brigade sentiment and message volume on Sep 23 as of 12:30 pm IST. | source: Stocktwits

Brigade shares have declined 25% year-to-date (YTD).

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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