Bajaj Finserv (Make or Break point) but Long Bias
Price is currently resting at a Strong Support Zone, which is a confluence of:
1) Anchored VWAP Support from the May Bottom
2) Trendline Support from the May Bottom (3 valid touch points of Trend Line already done)
3) Price at Lower Range of the Box
We also witnessed a False Breakdown few days back, hence if it had to fall it would have already. So better to play on the Long Side, playing for Short Side might result in a choppy whipsaw once again
Safe Traders can buy above 6200, Risky Traders can buy at CMP with Stops below 5800
1) Anchored VWAP Support from the May Bottom
2) Trendline Support from the May Bottom (3 valid touch points of Trend Line already done)
3) Price at Lower Range of the Box
We also witnessed a False Breakdown few days back, hence if it had to fall it would have already. So better to play on the Long Side, playing for Short Side might result in a choppy whipsaw once again
Safe Traders can buy above 6200, Risky Traders can buy at CMP with Stops below 5800
Trade closed: stop reached:
Box Broke down so position reverse to sell side