BAJAJ CONSUMER CARE LTD - ASCENDING TRIANGLE PATTERN
Bajaj Consumer Care Ltd. is in an uptrend. The counter was in a consolidation since 4th February 2021 until it gave the upward breakout on daily chart on 13th April 2021. The breakout was marginally above the resistance line. The breakout sustained on the immediately succeeding daily candle on 15th April 2021 with a close of Rs. 294 with a good volume support. I anticipate the price target of Rs. 334 in a time frame of about 21 daily candles. I suggest the stop loss at Rs.276 for the first four candles starting from 15th April 2021. Thereafter the profit booking/ exit decision be taken on a crossover of 26 EMA by 5 EMA.
NOTE: This is an attempt to predict future price movements. The investment decision, if taken based on this idea, should be at the sole risk of the investor.
NOTE: This is an attempt to predict future price movements. The investment decision, if taken based on this idea, should be at the sole risk of the investor.
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