Bajaj finance spot cmp 6186.
240 mins time frame.
Price action study
Descending wedge pattern formation.
Counter is trading around supply zone as per descending trend line.
RSI is at historical levels, where counter makes peak and reverse.
Bearish reversal confirmation by candle.
Counter might take pause in this bullish trend or can also retrace deeper if the recent high is not cleared on closing basis.
So its alert for bulls to be at door step, as bears may take entry.
view remains valid till the high is not taken out on closing basis
240 mins time frame.
Price action study
Descending wedge pattern formation.
Counter is trading around supply zone as per descending trend line.
RSI is at historical levels, where counter makes peak and reverse.
Bearish reversal confirmation by candle.
Counter might take pause in this bullish trend or can also retrace deeper if the recent high is not cleared on closing basis.
So its alert for bulls to be at door step, as bears may take entry.
view remains valid till the high is not taken out on closing basis