Bajaj Corp-Early in Wave 5 with 360 Critical Support- Target 570

267 6
In Last Update- ABCD pattern worked its magic & we got 2 back to back trades - going long in the zone 420-423 for 435-440 Then Dropping from 435-440 to 395 - Isn't Amazing!

Since Feb2011 lows of 73.40 - It has travelled in impulsive manner & completed choppy Intermediate wave-4 at 360 lows- which will be critical support for our next set of upside target initially 435-440 & cross of 440 -we shall come back.

Long Term Investment
We shall look for 570 where wave 1 equals wave 5 -which is the long term target & minimum expectation in 5-6 months.

Previous Update- Rocks from 435 to 395 WHat a slip

Trade active: 07:21 Hrs 26th April2017

Last Price@403

We trail our stoploss below 380 from 360 which was critical support as stated in the main update.

Against 360 lows - It made recent low@384 & bounced - Moving next above 407 it should head in the desired direction.

Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Hi Abhishek, thanks for giving me the oppurtunity to learn from your charts. Do you conduct tutorials on elliott wave ?
@gurukiran23, Thanks Gurukiran, At present I am handling India Region for TradingView & Timing is an issue for me to do analysis as well but I try my best. Conducting tutorials is out of question at the moment which my profile won't allow just because of time limitation. In Future, Who knows I may conduct such tutorials.
great chart explanation by great person :)
@naizycm, Thanks.
kamy4profit AbhishekHSinghCMT
@AbhishekHSinghCMT, can you please revisit this stock...I am holding since May @381 levels
@kamy4profit, The move upside from 360 to 465 looks very choppy so likely it is moving in complex correction & can drop to similar levels downside before it rallies again. On closing basis 435 & below should be the trigger downside. Long term looks for 570 atleast.
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