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Bajajautoshort

Bajaj Auto trade for next week 05/09/22.Bajaj Auto recent created its 52-week high and has formed a doji on the weekly time frame. The stock for previous 6-7 weeks couldn't close above 4092. It has gained around 10% in last two months and seems to retrace before giving a break out the resistance level. The stock is for the bearish movement and can be carried for a nice target. Setup for the trade:- 1. Closed below its 20 DMA. 2. High volumes. 3. A doji on weekly time frame. The stock can be shorted once it takes out the level of 4010. If the stock closed below 4010 on hourly time frame the trade can initiated as the resistance level and its hourly 200 ema will be taken out. Target :- 3956, 3900 Stop loss :- 4028 The trade can be carried for a swing trade and nice target can be attained.
NSE:BAJAJ_AUTOShort
by Mambotrade
2
Bajaj Auto Technical studies For Swing TradersBajaj auto looks bearish in the daily timeframe chart. On Tuesday, It has given a breakout but couldn't hold the supply pressure at the upper trendline of the correction parallel lines. The breakout became fakeout! Bajaj auto has created a big belt candle and started falling. According to past performance, If the trend is weak, then the price will make set of bearish candles. Swing traders can wait for the breakout of the trendline of the wedge pattern. If it breaks down the lower trendline of the wedge pattern, we can expect a good downfall. Targets: 3603 - 3525 - 3386 and more. Invalidation: Breakout of the parallel channel. Thank you! Money_Dictators Disclaimer: This is NOT investment advice. Invest your capital at your own risk .
NSE:BAJAJ_AUTO
by Money_Dictators
2
Bajaj Auto Seems more Bearish Again nowDear All, If you have a look on chart where Share Price had break it's major support at 3473 and closed at 3444. Now as per my analysis, this share will decline more towards 3300 level now where as it has a support at 3368 level but most likely it will break that level as well and reason are as below:- Reason for such prediction - #1 ) On RSI, it forms a Lower Highs and Lower Lows pattern which shows that next support for RSI is on 16% now, where as currently it is trading at 25%. If RSI needs to test it's support level at 16% then share price will have to decline up to 3300 levels. #2 ) Exclusion of Bajaj Auto from BSE Sensex, where Wipro will replace it. #3 ) Dip in Export Vehicle sales due to chip shortage problem. Note - This Post is just for education purpose only, please do your analysis before taking any trade on my idea's.
NSE:BAJAJ_AUTOShort
by Stock_Market_View