Niftydirection

Bajaj Finance Wave 5 Ending Diagonal Final leg of Upmove

Long
NSE:BAJFINANCE   BAJAJ FINANCE LTD
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Bajaj Finance gave breakout from Ending diagonal in Wave C and since then moved up now in final 5th wave formed Ending Diagonal in Wave five (5).
Confirmation: We see (iv) right now completed since 3 up side candles and started wave (v). It also moved nearly 0.5 fib level 3570.

Next possible Wave 5 target 3670 which is 0.786 fib level.
If wave (v) not truncated then possible to touch 3770,3820,3870 levels.

Once wave (v) ENDs downside will start.

Trade closed manually: Todays bearish Engulfing candle suggesting upside over. Wave v looks to be truncated at 0.5 fib level as it dropped sharply from 3575. Will have to confirm down move wait for close below 3480. Updated chart will be shared later.

Comments

Ending Diagonal ...w3 cant be >W1.
Reply
Niftydirection rajesh2467
@rajesh2467, wave 3 is always > wave 1 and 5 in both leading and ending diagonals
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