TradingView
UnknownUnicorn6410169
May 6, 2020 11:43 AM

Bajaj Finance 

NSE:BAJFINANCE1D
BAJAJ FINANCE LTDNSE

Description

⋅
~ Stock is in downward channel with rising volume and showing bullish divergence
~ trading against the trend (-ve) correlation with index
#Watchlist

Trend AnalysisChart PatternsTechnical Indicatorsbajajfinance
Comments
mayanksardana
⋅
It's still lower lows lower high and RSI is lagging indicator! However today's candle looks good.
nawedakhtar
⋅
@mayanksardana, stock is trading in channel because it is a big player in NBFC sector. Whole NBFC sector is weak.
BTW RSI is a leading indicator.
nbisgreaTrading
⋅
@nawedakhtar, its a momentum osscilator and hence its a leading, what he told absolutely looks strong!
nawedakhtar
⋅
@nbisgreat, not all the momentum oscillator is leading, for example MADC is a momentum oscillator but it is lagging.
nbisgreaTrading
⋅
@nawedakhtar, **MACD
ShubJais
⋅
@mayanksardana, Sir one should buy or sell in the current situation
mayanksardana
⋅
@ShubJais, No Buddy, I am still bearish, Until it doesn't close above 2400
UnknownUnicorn6410169
⋅
@mayanksardana, BAJFINANCE Relative strength is not good...that's why its still in watchlist. Yes @mayanksardana you are right if its not able to gain strength with Nifty we can see more downfall. Let's see and thanks for your reply and sharing view :)
rkb291
⋅
So what could be price near bottom.
mayanksardana
⋅
@rkb291, We could never find a bottom or top! if i would have that power i would have been world richest person! What we can do is ride the trend in case of investments and looking for 2-3% in case of trading either side ! You may see rise in stock and that will be trading moves, Once base is formed you may get stock little expensive but chances of stock going down will be less.
So if you are trader then you can look to buy at lower channel.
More