🏍 Bajaj Auto Swing Trade Opportunity 🛺NSE:BAJAJ_AUTO
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 As One can see, This pattern is extended pattern, that's why stop loss quite big. So wait for perfect reversal first then only go for long and ones enter in trade then strictly follow stop loss and here as per my own experience one should take Stop Loss as closing basis.
(PRZ :- Potential Reversal Zone, SL :- Stop Loss, TF :- Time Frame)
PRZ 1 :- 3180
PRZ 2 :- 3165.5
SL :- 3051.85 (Closing Basis)
Target 1:- 3226
Target 2:- 3278
Target 3:- 3349 and more Trailing basis
Note:- As Per this harmonic pattern, stop loss is quite big, so Trade on reversal only if you don’t know what is reversal, Ask doubts in comments below.
******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are not SEBI registered.
Bajajautolong
BAJAJ AUTO At support level - Best Buying OpportunityBAJAJ_AUTO is taking support on weekly chart by forming bullish candle. If starts trading above 3365, good opportunity for long position. Trader should keep SL 3222 on closing basis. First target might be 3470. So keep eye on Bajaj Auto for low risk high reward trade.
Simple Trade Setup | BAJAJ AUTO | 25-10-2021 [ INTRADAY]NSE:BAJAJ_AUTO
Observations:
1) On daily time, it took support from 50DMA and and closed below 200DMA. Good thing is that today it went up above 200DMA.
And now stucked with green candle between 50DMA and 200DMA.
Breakout of 200DMA will give it good up move. 200DMA is placed at 3882.65.
50DMA will work as immediate support.
Also volume has been increasing in last 4 days.
Please refer below chart : 1day Time Frame.
2) On daily time frame, we can see the immediate critical resistance zone is from 3873-3885.
Please refer below chart : 1day Time Frame.
3) On 1hr time frame now the resistance line worked as support trendline. It took support from it today.
Please refer below chart : 1day Time Frame.
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Trade Setup for Date 25-10-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
BAJAJ AUTOThis stock has recently done breakout in daily time frame with good intensity of volume, and it looks like new impulse as a wave 3 has been started, as wave 3 unfolds we can see this stock at 4000 - 4200 levels, on down side 3830 is a crucial support which is 20 sma mid bollinger band and coincide 40 day ema, both are around same levels to watch out for.
breakout with good intensity of volume
current wave structure could be like this
macd in weekly uptick above zero line
macd in daily positive and uptick and also above zero line
rsi in daily above 60
dmi adx positive ungali setup in weekly
dmi adx positive ungali setup in daily
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Disclaimer
i am not sebi registered analyst
my studies are for educational purpose only
please consult your financial advisor before trading or investing
HAMARA BAJAJ LOOKING GOOD TO BUY Bajaj Auto looks good to buy around 3850-3800 Range and can more if you get near the green trendline.
Hold Bajaj Auto for upper targets marked on the chart until we lower green trendline is intact on a daily closing basis.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Bajaj Auto - Bullish BreakoutNote: This is for educational purpose only. Please do not trade in F&O based on this analysis.
There seems to be a bullish breakout with volume. Relative strength of the stocks seems to be crossing above which indicates strength. Moreover, RSI above 60 indicates bullish momentum.
SL: 3800.
Bajaj Auto showing a big divergence in RSIOn wedenesday the goverment of india also rs 26,058 crore for PLI(production-linked Incentive) scheme for auto, auto component industry and drone industry to enhance manufacturing in india.
RSI of NSE:BAJAJ_AUTO also showing a positive divergence in its daily chart. You can go for long on the daily chart of the bajaj auto. With the stop loss of 3805 because of its fibonacci retracement levels.
BAJAJ AUTO LONG.BAJAJ AUTO is maintaining its uptrend structure by continuously making higher lows. It ahs completed a pullback to its 20 EMA and has closed with a positive candle today and decent volume. Keep watch on it for upward continuation, target would be achieved if it breaks above 4300 on a closing basis. Initiate trade only when price sustains above 4200 for at least 15 minutes.
LONG ABOVE : 4200
STOP LOSS : 4030
TARGET 1 : 4370
TARGET 2 : 4540