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Bravetotrade
May 16, 2020 10:29 AM

BAJF: Shorting Opportunity Around the Axis Line Short

BAJAJ FINANCE LTDNSE

Description

Bajf had a strong sell of which drove it back below the axis line. There could be a possible short setup which i ll present on the lower time frame. For more information on the Axisline topic read my previous post.



Regards

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All the best.

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Bearish out of the box. Partial booking adviced.

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For the remaining position SL @ breakeven 2055 and target 2005

Trade closed: target reached

One can trail if wish so but i am done as of now.

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Its worth mentioning here that the best trades always emanate from simple setups irrespective of rumors. They generally do not linger or look back once you enter and generate quicker profits.
Comments
Deepak0414
There is a negative divergence between MACD and Stock Price. So there is a possibility that the stock price may Rise in future.
Bravetotrade
@Deepak0414, this is just a short term price action setup.
Amiya111
BajF result coming on Tuesday, expected on Monday it cross 2.5k
Bravetotrade
@Amiya111, May be we get some trending move in either direction after news.
dprao9120
Bajaj finace is one of the best bussiness model.though it is trading at low, it will deffenitly give good returns in long term.
Bravetotrade
@dprao9120, May b upside returns are possible in the long term but untill then we can take advantage of possible downside returns :)
BullionMCX
great
Bravetotrade
@BullionMCX, thanks
vanathi
Axis line reminds me "Axis bank" :)
Bravetotrade
@vanathi, Hahaha..cool.
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