Bajaj Consumer is in sideways and ready for a big move

Bajaj Consumer is in sideways and ready for a big move

Reasons/Traits :
Bearish Bat harmonic pattern is forming (gets activated if price goes and stays above 265
• Price is in sideways since few weeks
• Price is revolving around 13/20/50/200 EMA
• Big movement can be expected from stock which are in sideways since long and hovering around all EMA’s

What can happen next :
Scenario 1 : Price sustaining above 265 levels can take it to 270/280/290/310/325 levels
Scenario 2 : Price break down below 250 or the trend line can take it down to 245/230/220/210/200 levels

Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!

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Comment: Scenario first two targets hit
Comment: low 219...3rd target hit
Comment: Low 211 today..
Trade closed: target reached: all targets hit