marzil

Bearish Divergence on BAJAJ Finance [EW Count]

Short
NSE:BAJFINANCE   BAJAJ FINANCE LTD
Time to look for closing longs/taking profits on Bajaj Finance.
What seems to be a very clear bearish divergence can lead to ending higher degree wave 5 (green)
What comes after this high degree wave end cannot be pretty.
Take closing your positions into considerations.

ALGO Targets:
The following targets are calculated by taking algorithms and Elliot wave-Fibbonaci ratio relations into consideration.
Although a correction is imminent, please take these resistance levels with a grain of salt.

target 1: 2170-2280
target 2: 2450-2615

Short Entry:
Meanwhile, I will be opening shorts with very tight stop losses at these levels.
Reward is too good to miss, and risk can be adjusted accordingly.
Personally, I'll be looking for stop losses level such that R/R > 3.

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