Prices are ranging from 6014 - 5227. The Formation \/\ is formed. Now we have to see the final leg.
The candlesticks show a thrusting pattern on 19/10/18. Bullish signal that needs confirmation.
The bottom was tested on 19th October where a low of 5240 was made and then the stock rallied.
If close above 6200. Buy at 6201. You may buy at a retracement.
caution after breaking out of the range there may be a minor correction so buy after a retracement.
Then you may recalculate profit objective and stop loss.
The risk reward in present scenario does not look attractive. We have to watch how the pattern unfolds.
The pros of watching Bajaj Finserv is a high book value, has given highest returns in the past and is a high momentum stock.
Profit Objective : 6523
Catastrophic Stop Loss : 5247
Catastrophic Stop Loss is when trade goes against you, you exit at this price. This value is your final stop loss.
The candlesticks show a thrusting pattern on 19/10/18. Bullish signal that needs confirmation.
The bottom was tested on 19th October where a low of 5240 was made and then the stock rallied.
If close above 6200. Buy at 6201. You may buy at a retracement.
caution after breaking out of the range there may be a minor correction so buy after a retracement.
Then you may recalculate profit objective and stop loss.
The risk reward in present scenario does not look attractive. We have to watch how the pattern unfolds.
The pros of watching Bajaj Finserv is a high book value, has given highest returns in the past and is a high momentum stock.
Profit Objective : 6523
Catastrophic Stop Loss : 5247
Catastrophic Stop Loss is when trade goes against you, you exit at this price. This value is your final stop loss.