Bajaj Finserv - Inverse Head and shoulder pattern | Breakout
Today we do technical analysis and found breakout in one of my Favorite stock.
following things we noticed:
1. Inverse head and shoulder pattern in Bajaj
2. Pattern break-out
3. Break-out with volumes
4. Easy 4-6% upside seen on chart
CMP : 1543
Short-Term Target : 1598 (why not 1600? - there is a logic, on that kind of levels there we can found call writers so most of the time price done touch these round off figures.)
Stop Loss : low of today's candle.
following things we noticed:
1. Inverse head and shoulder pattern in Bajaj
2. Pattern break-out
3. Break-out with volumes
4. Easy 4-6% upside seen on chart
CMP : 1543
Short-Term Target : 1598 (why not 1600? - there is a logic, on that kind of levels there we can found call writers so most of the time price done touch these round off figures.)
Stop Loss : low of today's candle.
Trade closed: target reached:
Given at 1543
CMP 1621
5% in on month
CMP 1621
5% in on month