📈 Pattern Analysis: Bajaj Auto has successfully completed a Bullish Head and Shoulders pattern on the chart, followed by a clean breakout and subsequent retest, confirming the validity of the formation. The price action now awaits a pivot breakout, which would trigger the next leg of upside momentum.
📊 Trading Strategy:
Two distinct trading approaches can be considered based on trader type:
1. Retail Concept Strategy:
Enter long above the pivot high once price breaks decisively.
Place stop-loss below the breakout candle, ensuring a safer entry with confirmation.
Note: The risk–reward ratio is less favorable if the SL is kept below the right shoulder in classical style.
2. Smart Money Strategy:
Enter on retrace to the order block area positioned just above the right shoulder.
This offers a superior risk–reward entry aligned with institutional-style trading concepts.
🔎 Indicators & Trend:
50 EMA is sloping upward on the hourly timeframe, confirming short-term uptrend strength.
RSI > 65, indicating sustained bullish momentum with potential for continuation.
🎯 Target Projection:
Targets will be determined using the measurement rule, projecting the height of the head added to the neckline breakout zone.
⚠️ Disclaimer:
This analysis is prepared only for educational and training purposes. It does not constitute investment advice or a trading recommendation.
✍️ Prepared by: SEBI Certified Research Analyst (Not Registered)
📊 Trading Strategy:
Two distinct trading approaches can be considered based on trader type:
1. Retail Concept Strategy:
Enter long above the pivot high once price breaks decisively.
Place stop-loss below the breakout candle, ensuring a safer entry with confirmation.
Note: The risk–reward ratio is less favorable if the SL is kept below the right shoulder in classical style.
2. Smart Money Strategy:
Enter on retrace to the order block area positioned just above the right shoulder.
This offers a superior risk–reward entry aligned with institutional-style trading concepts.
🔎 Indicators & Trend:
50 EMA is sloping upward on the hourly timeframe, confirming short-term uptrend strength.
RSI > 65, indicating sustained bullish momentum with potential for continuation.
🎯 Target Projection:
Targets will be determined using the measurement rule, projecting the height of the head added to the neckline breakout zone.
⚠️ Disclaimer:
This analysis is prepared only for educational and training purposes. It does not constitute investment advice or a trading recommendation.
✍️ Prepared by: SEBI Certified Research Analyst (Not Registered)
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.
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.