Trading_hawk

Simple Trade Setup | Bajaj Finance | 10-08-2021

Long
NSE:BAJFINANCE   BAJAJ FINANCE LTD
NSE:BAJFINANCE

Simple Trade Setup

If it opens in no trading zone then wait for first 15-20 minutes to let the early trading noise get settled.
Once it break 6230 level or trendline then it will be entry for buy trade. But a 15min candle breakout of this is required and it should be followed buy 2 - 5min candle trading above this level.
Don't jump in to trade at early. Let it get settled.

But if it breaks down 6180 level then it can be entry for sell side but safe sell trade entry will be breakdown of 6150 level with 15min red candle.

All other levels will work as target, resistance, support, entry & exit point w.r.t to how price action is working tomorrow near that level.
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On Daily Time frame, today it has closed just above 21DMA. 21DMA is placed at 6190 level. Which is a good sign.
So far it has been taking support from 21DMA on daily time frame.
Also it has been following trendline and taking support from it on daily time frame.

Refer below chart.


Tomorrow, 10-08-2021, will be good day to observe and take the trade as per trade setup only and trade with SL.

Do comment your doubt or suggestion.

all the best.

Comments

pls reply me sir😭
Reply
Hi sir Good evening ur narrated 🔥
pls let me know about Bajaj finance 6300ce26 Aug expiry bought @ 130 around 110 lots appox 15lakhs investment presently loss of 4lakhs and trading @ 101
shall I hold till 20Aug or book loss and sell it tomorrow
Reply
Trading_hawk cbasava23
@cbasava23,

Hi Thank you for your comment.

My personal view is better to hold.

If you see in below chart it made bullish divergence as it was making lower low on price chart and higher low on RSI.
And Today it has recovered all from it's bottom level. Also it has been taking resistance from that black trendline. Even today it took the resistance from it. Breakout of this trendline will give bullish momentum to Bajaj finance.



Another things is that on daily time frame it has taken resistance from 21DMA. This will be a small concern.

Anyway tonight I will post proper analysis. Stay tuned.
Reply
Tq for ur valve time and replying me sir
it goes up na sir????
Reply
Trading_hawk cbasava23
@cbasava23,
Once it break that trendline it will be bullish. Still you have time so better to hold. And just posted below chart.

Reply
Tq sir
Reply
Hi sir, Good evening
sir went upto 6254.....(6300 call 125rs) but my call price at 130 and came back to 99 sir
sir pls seriously I am loss of again 4lakhs
1) what to do sir?.....any chance of bounce back again tomorrow sir
2) Tomorrow what ever the price should I exit sir or?? any chance so that I can book profit
3) if it falls to 90 rs net loss of 5lakhs sir
4) pls help me out when to exit sir😭😭😭😭😭😭😭😭
Reply
Trading_hawk cbasava23
@cbasava23,

hi your option is out of the money. And still you have time till next week. Today break that trendline and give intraday movement as per levels and trade setup. If I am in your position then I will still hold it or book partial loss and buy an in the money (ITM) Call option with that partial capital.

I would like to know your reason as well why you had bought this option? Are you trading with stop loss? You have to decide your stop loss with reference to your risk taking capability. If you are worried for 4lakh loss in position then you should have kept SL for loss of just 1Lakh earlier.

If you see on daily time frame then it has crossed and closed above 21DMA level.



Tomorrow if it keep on trading above 6230 level then it will get ready for an good up move in coming days.
Reply
Hi sir
I just narrated myself and took the call ; went on averaging with out stoploss
definately it's my biggest ever mistake...
Sir even it reaches tomorrow to 125.. I will sell sir....
pls let me know any changes for tomorrow 🙏🙏🙏,
it's hard earned money in 10yrs sir...
Thanks for all ur support and reply sir...which I will never forget in my life
2) since market is high and Friday May book profit and it may fall further
Reply
Trading_hawk cbasava23
@cbasava23,
Hi

I think better wait and watch how price action works tomorrow.
As a trader you have to develop your psychology to control your emotion.

Never enter in to the market with pre-judgement or sentiment. Always wait and judge the price action and keep your trade plan ready for both the side.

I will try to reply here tomorrow after judging price action tomorrow during trading day.

This is a mistake. Never add your capital in the trade which is red and never try to average it. Since your option get OTM so it is not advisable to keep on adding it.
Better to buy in the money (ITM) Option instead and keep on booking profit from it and recover your loss.

Take proper rest tonight and let's wait for tomorrow's price action.
Reply