Bajaj Finance shows dual pattern. One is a Descending triangle pattern implying a bearish outlook and the other is a Bear flag indicating bearish continuation. Both the pattern looks valid by breaking the common price of confirmation at 3380.
Descending Triangle: Depth of pattern looks to originate from 3760 towards the base of 3380, forming a considerable 380...
Tail doesn't always mean that the price will reverse.If the second candle is long down from the tail it means that price will move down.
The less time price spends at a certain price level, the more effective that price level will be in providing support or resistance for future price...
Double Top pattern spotted in Bajaj Auto. If the pattern is confirmed by breaching 2900 levels, the stock can be expected to fall nearly 7% towards 2710. Do notice that rising Trendline is broken.
Apparently, 61.8% FIB falls at 2710 making it a considerable support.
BAJAJ AUTO - Trading in a Broadening Wedge
Stock can be seen holding long term trendline ( since 2011) support.
Price Action: November candle is a bullish candle , which did not make lower low and December candle made higher low and higher high.
Harmonic Pattern: bullish Cypher -prz 2450-2250