Bajaj Corp - ABCD Pattern 435-440 Resistance

362 7
Possible completion of ABCD Pattern where CD-leg could complete 161.8% of AB leg - Face resistance from 440 or in the zone 440 - 435

Trading Scenarios
Both the scenarios 360 is critical level downside- if breaks, then can fall sharply downside.

Going to zone 435-440 where CD leg completes 161.8% of AB leg -face resistance below 440 & fall close to 395-400 zone in the choppy triangle -hold & then pushes up again above 400.

Moving above 440 can target for 470 & above 470 for 490 levels above 490 -crosses high of 522- made in Aug2015.

Trade active: 11:08 Hrs 14th April2017

Last Price@429

Day High on 13th April2017 - 435- Target Kissed as per Scenario-1 & took a U- Turn
Trade active: 20:30 Hrs 16th April2017

Last Price@429

One side it has already filled travelling from 423 to 436 as expected to complete the D-Leg of the pattern.
Pattern started working right at the top of 436 our PRZ(Potential Reversal Zone) as updated above.
If it holds below 430 then likely heading for 395-400 target zone next.
Trade active: 10:02 Hrs 17th April2017

Last Price@400

Boom- Falls ---Falls & Falls to 398 going into the expected target zone of 395-400 as updated above.

Trade active: 10:30 Hrs 17th April2017

Last Price@403

Morning gap of 418-420 - near by can be an attempt by B-Corp -if holds then we can see selling again. So going into the zone 418-420 & then falling is what I am expecting -should not keep moving above 420.
Trade closed: target reached: 13:03 Hrs 17th April2017

Day Low@395

Target Done - idea closed- ABCD work done

Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
You have mentioned trade active but above 407 would be more bullish cfm. Why 407 and not 410 I am not able to understand. Pls advise
@DINESH1961, 406.35 was recent high so crossing that I have taken 407- it will move upside.
Awesome !!
Abhishek ,trade active means going for short aiming 395-400??
@piptamil, Trade has started from 435-440 zone as expected where one could have entered or look for weakness -if it holds below 430 then look to sell.
piptamil AbhishekHSinghCMT
@AbhishekHSinghCMT, understood,thanks.
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