Gann-Elliott-Trader

Chart of the Week: Bajaj Electricals

Long
NSE:BAJAJELEC   BAJAJ ELECTRICALS
On the Daily timeframe chart we can see there was Head & Shoulder pattern formed in this stock but then, trend was very strong, so prices just kept going up and Head & Shoulder pattern voids and this stock is in strong uptrend. This week this stock had a breakout and is ready to go further up. Its multiple years High is 680. This is our first target and above 680 level, this will enter into a new orbit and previous support and resistance levels will no longer be valid for this stock.