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Bajaj

Bajaj Finance | Descending Triangle & Bear Flag observedBajaj 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 points. Pattern is valid as price closed below 3380. Hence, technical target would be at 3000 based on the pattern. That accounts for a fall of little more than 10% from 3380. Bear Flag: Depth of pattern looks to originate from 3525 towards the base of 3380, forming 145 points. Pattern is valid as price closed below 3380. Technical target would be at 3235 according to this pattern. That accounts for a fall of little more than 4% from 3380. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
NSE:BAJFINANCEShort
by AkhilSuryaFS
1
The different angle of Bajaj Auto: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 action. The market gives value to certain price areas. See daily chart the price is rotating it is in the value area. On weekly chart its support is still too far It will take a lot of time to reach its support. The control price is basically a pivotal support and resistance level inside the value area.
NSE:BAJAJ_AUTO
by Trade-Technique
14