📈 Bajaj Healthcare - Fresh Opportunity for Upside Move! 🚀
🔍 Key Observations:
Stock is forming a CNH (Continuation Narrowing Pattern) on the daily timeframe.
Broke out of a 3-year-old trading range on 18th Dec 2023.
Consolidating in a narrow range since 19th Dec 2023.
Volume confirmation (3x-5x) and a strong candle needed for breakout confirmation.
Broader markets are still in a weak structure (LL-LH), so trade cautiously.
🎯 Trade Setup:
Entry: Above 717 (Breakout level).
Stop Loss (SL): Closing below 595 (17.01% risk).
Target 1 (Positional): 942 (31.38% reward).
📊 Risk-Reward (RR):
RR Ratio: 1:1.8
💡 Trading Strategy:
Initial Entry: Buy above 717 with a small test quantity (limit position size).
Add More: On breakout and retest (if it occurs).
Overall Position Size: Keep it low as we are trading against the broader market trend.
Wait for Confirmation: Broader markets need to show signs of reversal (closing above 50-200 DMAs) for scaling in further.
⚠️ Disclaimer:
This is not investment advice. Trade at your own risk.
The broader market is still in a weak structure (LL-LH), and the probability of failure is high.
Always use proper risk management and limit position size.
Past performance is not indicative of future results.
📌 Key Takeaways:
CNH pattern suggests a potential breakout.
Volume confirmation is critical for validity.
Trade cautiously in a weak market environment.
RR of 1:1.8 offers a favorable setup if the breakout sustains.
🚨 Final Note:
Personally, I will scale in only when the broader markets show signs of reversal (closing above 50-200 DMAs).
Until then, trade lightly and stay disciplined!
🔍 Key Observations:
Stock is forming a CNH (Continuation Narrowing Pattern) on the daily timeframe.
Broke out of a 3-year-old trading range on 18th Dec 2023.
Consolidating in a narrow range since 19th Dec 2023.
Volume confirmation (3x-5x) and a strong candle needed for breakout confirmation.
Broader markets are still in a weak structure (LL-LH), so trade cautiously.
🎯 Trade Setup:
Entry: Above 717 (Breakout level).
Stop Loss (SL): Closing below 595 (17.01% risk).
Target 1 (Positional): 942 (31.38% reward).
📊 Risk-Reward (RR):
RR Ratio: 1:1.8
💡 Trading Strategy:
Initial Entry: Buy above 717 with a small test quantity (limit position size).
Add More: On breakout and retest (if it occurs).
Overall Position Size: Keep it low as we are trading against the broader market trend.
Wait for Confirmation: Broader markets need to show signs of reversal (closing above 50-200 DMAs) for scaling in further.
⚠️ Disclaimer:
This is not investment advice. Trade at your own risk.
The broader market is still in a weak structure (LL-LH), and the probability of failure is high.
Always use proper risk management and limit position size.
Past performance is not indicative of future results.
📌 Key Takeaways:
CNH pattern suggests a potential breakout.
Volume confirmation is critical for validity.
Trade cautiously in a weak market environment.
RR of 1:1.8 offers a favorable setup if the breakout sustains.
🚨 Final Note:
Personally, I will scale in only when the broader markets show signs of reversal (closing above 50-200 DMAs).
Until then, trade lightly and stay disciplined!
Note
Entry Triggered. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.