Bajaj Finance - Bullish near historical levels
Currently Bajaj finance is range bound. 3125 and 3380. these are the extreme ends where it is seeing a strong level of support and resistance respectively.
It can only move towards the next zone and hit 3700 levels once it crosses and sustains 3400+ levels for a complete day trade.
Looking at the historical moves, we can see that whenever such level of resistance is encountered, the script moves above it only when the uptrend line crosses that level.
This is just my observation, but if this is to be true, then it may move above the 3400+ levels around July 25th. I am not a pro in time bound analysis, but lets see if this hold good.
Trend will reverse to bearish side, if it breaks the lower range of 3125 and remains below 3100 levels for a complete day session.
That will be like breaking the upmove trend and then it might reverse completely. Would consider fresh buying only above 3400 levels.
It can only move towards the next zone and hit 3700 levels once it crosses and sustains 3400+ levels for a complete day trade.
Looking at the historical moves, we can see that whenever such level of resistance is encountered, the script moves above it only when the uptrend line crosses that level.
This is just my observation, but if this is to be true, then it may move above the 3400+ levels around July 25th. I am not a pro in time bound analysis, but lets see if this hold good.
Trend will reverse to bearish side, if it breaks the lower range of 3125 and remains below 3100 levels for a complete day session.
That will be like breaking the upmove trend and then it might reverse completely. Would consider fresh buying only above 3400 levels.
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