As the markets look weak, it makes sense to trade in stocks that a have weak setup. BajaFinserv looks like one of the weakest charts in Nifty.
The stock has failed to rise above the previous high 19325 and made a lower high at 18620. Post that the stock prices moved below the previous low of 15450 at a very fast rate i.e. just 5 days. This shows the strength of downtrend.
The stock prices has broken below the previous support of 15600 with high volumes and has the next support at 14000. Good shorting opportunity!
Disclaimer : Only for educational purposes.
The stock has failed to rise above the previous high 19325 and made a lower high at 18620. Post that the stock prices moved below the previous low of 15450 at a very fast rate i.e. just 5 days. This shows the strength of downtrend.
The stock prices has broken below the previous support of 15600 with high volumes and has the next support at 14000. Good shorting opportunity!
Disclaimer : Only for educational purposes.