Stock Radar: 20% drop from highs! Bharat Forge is showing signs of bottoming out; time to buy?

The auto component stock hit a record high of Rs 1,826 on June 21, 2024, but has been in consolidation for five months. Recently, it rebounded after retesting the 50-week moving average on weekly charts, indicating a possible easing of selling pressure. While bears currently hold control, experts note that if the stock surpasses the Rs 1,330 swing high from February 12, bulls could regain momentum and drive the stock upward.