Bajaj Twins looks good bet for FY 2024-25.
Bajaj Twin are waiting for a move while other stocks of the group has given good returns in last few months.
Both the finance sector companies are trading a break out zone. Banks and other NBFC's has performed and created new highs.
Bajaj Finance
A bullish engulfing candle on the monthly charts is showing some trend reversal in the stock and has gained over 10% this month.
Price action traders can seen the bullishness in the stock and it is trading in a consolidation zone creating a bullish break out pattern.
There are chances of it consolidating around 7600-7800 levels and break out the higher 8200 levels creating a new ATH.
Volume profile ,since April '24, is also showing much of the activity happening around the trading price which signifies less selling volume on the higher levels on monthly charts.
Investment and positional stock holding in these stocks seems good for this FY.
Target price as per Fib Ext. are 8700-9250.
Bajaj Finserv
Its ATH high is 1932.50 and the stock is trading around 1644 levels.
Multi-month consolidation break out can be seen in the stock. If the stock starts to sustain above 1850-60, there are high chance of it giving 30-40% returns in coming FY.
The major resistance around 1860 is there and a break out is there just below the levels around 1700.
A position on the triangle break can be initiated with 25% of the investment capital and add on to the position on the horizontal zone break out.
Volume profile of Bajaj Twins are matching and are at the trading price. More bullish confluences help in carrying the trade and it is doing it.
The target price of 2100-2250 can be predicted as per the Fibonacci extention tool.
Entry should be made only after watching a price action or a break out with good volumes while closing over the levels on weekly or monthly charts.
Chart patterns and trading them are different thing. Price will be traded and chart pattern will help built the confidence.
Both the finance sector companies are trading a break out zone. Banks and other NBFC's has performed and created new highs.
Bajaj Finance
A bullish engulfing candle on the monthly charts is showing some trend reversal in the stock and has gained over 10% this month.
Price action traders can seen the bullishness in the stock and it is trading in a consolidation zone creating a bullish break out pattern.
There are chances of it consolidating around 7600-7800 levels and break out the higher 8200 levels creating a new ATH.
Volume profile ,since April '24, is also showing much of the activity happening around the trading price which signifies less selling volume on the higher levels on monthly charts.
Investment and positional stock holding in these stocks seems good for this FY.
Target price as per Fib Ext. are 8700-9250.
Bajaj Finserv
Its ATH high is 1932.50 and the stock is trading around 1644 levels.
Multi-month consolidation break out can be seen in the stock. If the stock starts to sustain above 1850-60, there are high chance of it giving 30-40% returns in coming FY.
The major resistance around 1860 is there and a break out is there just below the levels around 1700.
A position on the triangle break can be initiated with 25% of the investment capital and add on to the position on the horizontal zone break out.
Volume profile of Bajaj Twins are matching and are at the trading price. More bullish confluences help in carrying the trade and it is doing it.
The target price of 2100-2250 can be predicted as per the Fibonacci extention tool.
Entry should be made only after watching a price action or a break out with good volumes while closing over the levels on weekly or monthly charts.
Chart patterns and trading them are different thing. Price will be traded and chart pattern will help built the confidence.
Note
A double break out chance is Bajaj Finance is there on the weekly charts.
If the stock starts trading above the resistance levels and the trend line while giving weekly close above the levels, a buying opportunity is there in the stock for 10% move.
Entry :- Daily candle close above 7400.
Targets :- 7740, 8150
Positional/swing trade for next month expiry can be carried in the stock once the entry levels is triggered.
:)
Note
Bajaj Finance has given a break out of the resistance trendline and is around the horizontal resistance zone.
The stock has the potential to give a good upside move and if the resistance levels of is 7375 cleared, it can reach the previous high of 8100.
The target for XABCD pattern are also around the resistance zone. If the market starts to clear the resistance zone, 8760 target can also be achieved in few months.
Note
The stock is around a break out level. A entry can be made in the stock if there is retest of the breaa out level around 1720-30 levels.
A triangle pattern break out and is trading around a major resistance zone.
Entry activated as per the break out and another entry can be made for those not carrying long position around support levels.
Big target of 10-20% can be captured in the stock.
Even watch for the break out in the other twin stock Bajaj Finance.
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