Where will Bajaj Auto head to ?
Updated
Where will Bajaj Auto head to ?
Reasons/Traits :
• Bullish Bat Harmonic Pattern formation is seen (Uptrend)
• Bear flag pattern is seen (Downtrend)
• Todays close is exactly at 200 EMA and taking 3rd time support on the Bear flag pattern channel (Support)
• Last 3 candle sticks form three black crows candle stick pattern (Downtrend)
• Recent swing retracement took support at 0.382 Fib levels (Downtrend)
What can happen next :
Scenario 1 : Stock can give a breakdown of the flag pattern to reach 3650/3450/3170
Scenario 2 : Stock can move up taking support at 200 EMA or at 3650 level to reach 3800/4030/4260/4350
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Reasons/Traits :
• Bullish Bat Harmonic Pattern formation is seen (Uptrend)
• Bear flag pattern is seen (Downtrend)
• Todays close is exactly at 200 EMA and taking 3rd time support on the Bear flag pattern channel (Support)
• Last 3 candle sticks form three black crows candle stick pattern (Downtrend)
• Recent swing retracement took support at 0.382 Fib levels (Downtrend)
What can happen next :
Scenario 1 : Stock can give a breakdown of the flag pattern to reach 3650/3450/3170
Scenario 2 : Stock can move up taking support at 200 EMA or at 3650 level to reach 3800/4030/4260/4350
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Note
Stock is yet to break flag patternNote
still within channelNote
ready for upmove? lets seeNote
point b harmonic resistanceNote
3650 broken, will it go down ???Trade closed: target reached
Low 3224
Disclaimer
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