Bajaj Auto Technical studies For Swing Traders

Money_Dictators Updated   
Bajaj auto looks bearish in the daily timeframe chart. On Tuesday, It has given a breakout but couldn't hold the supply pressure at the upper trendline of the correction parallel lines.
The breakout became fakeout!

Bajaj auto has created a big belt candle and started falling. According to past performance, If the trend is weak, then the price will make set of bearish candles.
Swing traders can wait for the breakout of the trendline of the wedge pattern. If it breaks down the lower trendline of the wedge pattern, we can expect a good downfall.

Targets: 3603 - 3525 - 3386 and more.
Invalidation: Breakout of the parallel channel.
Thank you!
Disclaimer: This is NOT investment advice. Invest your capital at your own risk.
Target 1: 3603
Trade closed: target reached:
Target 2: 3525


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