Please check the chart and mentioned level to understand the possible breakout. Near term target is mentioned in the chart.
disclaimer: only for educational purpose.
NSE: BAJAJCON
If Breaks Then The Targets could be Taken at 158
Time Frame :- 1 Hour
Patterns Name :- Rounding Bottom
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Based on Your Own Risk this is only to Show you the Current Pattern
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Hello Traders,
I am Talking about Bajaj Consumer Limited, a strong support and resistance zone is visible in it in the daily time frame.
The market had stopped at resistance with a strong sell-off, then came back to the resistance, that zone is not able to break, then the market is visible on the side zone.
Now the market has made a strong hold on the level of ...
As per the 2 Hour Chart of BAJAJCON, we have witnessed a Formation of a “HAMMER” Pattern on the downside levels.
Therefore, we are expecting to witness a bullish momentum in the stock in the upcoming trading sessions. Wherein it is being expected to face a resistance initially at around the levels of 163.40, 167.25, and 174.20. Whereas, on the other hand, on the...
Looking good for long term investment ( minimum 1 year)
ROCE : 36%
PE : 13.8
Debt/equity : 0
200 Day moving average: 231
Volume: Increasing daily/weekly/monthly
Currently trading at 40% lower from its 52w high.
Resistance levels:
1st 267
2nd 310
Bajaj Consumer Care Ltd. engages in the manufacture and marketing of hair oil and hair care. Its brands include Bajaj Almond Drops, Bajaj Brahmi Amla, Bajaj Coco Jasmine, and Bajaj Kailash Parbat. The company was founded in 1953 and is headquartered in Mumbai, India.
BAJAJ CONSUMER as per daily chart analysis has broken the resistance 200 level and formed a bullish doji candle. Target 220 should be achieved in few sessions. I have entered the stock today based my own set up and lets see what happens. Today there had been a strong selling irrespective of nifty had good gap up and even it had broken the consolidation zone 17600 level.
BAJAJ CONSUMER as per daily chart analysis has made a consolidation break out and also broken the resistance level 200. Stock above 202 level for a target 220 level.
Bajaj Consumer is in sideways and ready for a big move
Reasons/Traits :
• Bearish Bat harmonic pattern is forming (gets activated if price goes and stays above 265
• Price is in sideways since few weeks
• Price is revolving around 13/20/50/200 EMA
• Big movement can be expected from stock which are in sideways since long and hovering around all EMA’s
What can...
If stock closes above 287 can go for buy.
Target 340+++.
Safe traders can exit at 340.
Minimum return is around 17.24%.
Thank you for the support!!!
_/\_
>Good consolidation in a flag pattern with support @50 EMA
>A buy trade can be initiated between 296 to 290 for a 15-20% upside with a stoploss of 280 only
>Favorable risk reward ratio of around 5
continuously making patterns, breaking out quickly and then consolidating and breaking out again.
follow the past pattern and back test it.
keep watching!!
