AhmedabadTradebulls

Range Bound or Breakout

Long
NSE:BAJAJFINSV   BAJAJ FINSERV LTD
84 views
3
Monthly :
1-Made Good support Near 4000
2- As well As clear Resistance visible is Monthly high 5529
3- Last 3 Month Open and close are almost same
That means in Monthly move there is not clear direction in Monthly View
4 -All Monthly indicators are not in buying side
5- Stock Is moving between 100 Month and 50 Months Moving Average.
Weekly-
* Last week stock has made Pin Bar in weekly basis with increasing volume
* In addition of that stock made 5529 swing high but close almost 400 rs /- below the high.
* RSI and MACD in upward curve from Oversold area.
Weekly view : stock may move between 4500 to 5500

Daily :
* Stock is in clear cut range between 4000-5175 from last 45 Days
* Bounce from downward range and break the upper range and made 5529 High.
* Hence stock is close between the range
* Rsi and MACD is not much increasing
* But Positive side is not close deeply below the support which were previously Resistance 5175
* In average point of view stock is taking resistance of 50 DEMA 5264
* But stock may take support near 4805 and 4736 which are 10 DEMA and 20 DEMa Respectivly
* Bolinger Bend is expansion mode Upper band is 5242

Plan A - If stock close consecutively 5175 then buy with stoploss of closing 5000 and target First 5529 and if continue then more then 1500 rs /- Possible.

Plan B - As I said stock made reversal from lower range so first support is mid the range 4500 and second 4000 , Buy near 4500 stoploss 4400.

Plan C - If whole Market will remain range bound then play the range 4500-5000-5500

For Delivery : Buy Stock in every 300 Rs /- Deep there is quite good support Near 4000 and it well below 20% from here.

Wise Advice : good stock to be buy if there is confirmed downside below 20% and Upside is expected 10000 that means 100% +

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