Positional Trading Idea on Bajaj Finserv for Short Term
BAJAJFINSV
Bajaj Finserv is on the verge of Breakout of Symmetrical Triangle. The difference between recent high low is around 850 point (1925 - 1075 approx). Adding 850 to probable upside Breakout near 1700 comes to a target around 2550 level.
Calculating Fibonacci Extension of 1.618 level considering recent High near 1925 and Low near 1025 come to level around 2450 level.
So, Breakout target above 1700 is between 2450 - 2550 level with Trailing Stop Loss around 1550 level.
Bajaj Finserv is on the verge of Breakout of Symmetrical Triangle. The difference between recent high low is around 850 point (1925 - 1075 approx). Adding 850 to probable upside Breakout near 1700 comes to a target around 2550 level.
Calculating Fibonacci Extension of 1.618 level considering recent High near 1925 and Low near 1025 come to level around 2450 level.
So, Breakout target above 1700 is between 2450 - 2550 level with Trailing Stop Loss around 1550 level.
Comment:
Crossed the symmetric Triangle resistance level. Long may be initiated when prices crosses 1725 level.
Comment:
Stock could not sustain to break the symmetric Triangle resistance level due to geopolitical tension between Israel Iran.