AdhigamaTrading

Where will Bajaj Auto head to ?

NSE:BAJAJ_AUTO   BAJAJ AUTO LTD
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!
Comment: Stock is yet to break flag pattern
Comment: still within channel
Comment: ready for upmove? lets see
Comment: point b harmonic resistance
Comment: 3650 broken, will it go down ???