Bajajauto
Bajaj Auto Positional Long View****Positional Trade****
Price Is Crossing above Ichimoku cloud in 15Min, with increasing volume.
Price is breaking the Trendline and crossing upwards too.
Quarterly Results are nearing
Below Trades can be taken considering current scenario.
Long Above 3090, SL 3065
Targeet 3110/3135/3150
Bajaj Auto enjoying a momentum time out.The stock is taking its time out at the 60 levels on RSI. After a unstoppable rally from August it has moved sideways and have consolidated. As of now he prices are resting on KS/TS support line, if a breakout is not registered within a session or two then some serious momentum loss may be grip up thereby pushing the stock into some sharp corrections.
PAIR TRADE IN MARUTI-VS-BAJAJ AUTO !!(DEC FUT)!!PAIR TRADE IN MARUTI-VS-BAJAJ AUTO
TRADE SETUP
HOLDING PERIOD:-2 TO 10 TRADING DAYS
ALL TRADES IN DEC FUT AND CASH FOR MATCHING VALUES
MARUTI
DEC FUT
BUY @7180
LOT:75
QTY:3"IMP"
TOTAL VALUE=16.16 LAC
BAJAJ AUTO
DEC FUT
SHORT@3260
LOT:250
QTY:2
TOTAL VALUE=16.30 LAC
"PAIR TRADES NEEDS TIME TO GENERATE INCOME"
"STAY TUNED FOR EXITS"
Bajaj Auto Trend PlayMonthly is clearly bullish with great momentum candle breaking out of the monthly resistance. A double bottom can also be spotted.
Weekly too gives a positive picture. Price has broken out of the resistances and smashed them. A pullback from this nice uptrend can be seen to test weekly support.
In the Daily, we can spot 4 rejections of weekly support further confirming our bullish bias. Last candle had a long wick, which is great.
In the 75 min, again a Double bottom at Weekly Support can be seen along with multiple rejections of weekly support. Using the 75 min TF for entry, a long entry is trigerred on break of Trendline