Bajaj electricals falling with a low momentum on low volume.
if it closes above 1150 then enter long.
stop loss below the support of 1115.
here is the daily chart
the break down level is also mentioned on the chart and the weekly support line can be used as a target.
Idea Only for educational purposes.
I hope you found this helpful.
I AM NOT SEBI registered advisor please consult financial advisor for your investment.
This is only for educational purpose you can also share your thoughts on the comments
**Green dashed line--Supportive line
**Red dashed line--Resistance line
**Red dotted line--hidden resistance line
**Black up and down arrow--touches of support...
Stock after retesting its previous strong support zone of 1020
Now giving 8 Months old trendline Break Out & now retesting BO levels
Buy above 1155/1160 levels with SL of 1100
For Swing targets of 1200/1240 to upto 1300 levels.
Above levels are for education purposes only
Do your own analysis before taking any trade
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BAJAJELEC been trading in a zone market with blue lines once it breaks that can expect a big move.
SL is yellow arrow but it need to confirm breakdown. chances of breakdown are low but it may test breakout level and bounce back so trade carefully dont get trapped.
target will be 1:1.5 or 1:2
Above average volumes
Buy at CMP- 1348
Target- 1490, 1524
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Disclaimer- We are not SEBI registered advisor.
Charts and views are only for educational purpose.
1. Bounced off from the previous support level.
2. Sellers unable to push the price below the psychological level of 1000.
3. Some increase in volume.
4. Continuous Bullish divergence.
5. Look for pullbacks on lower time frames and enter accordingly.
6. Good movement expected on closing above 1100.
Disclaimer: This is NOT investment advice....
This is only for positional trade. Short - mid term.
1) On daily time frame, we can see it sustain and took support from 200DMA.
Also closed above major support zone of 1075-1100 level range.
Please refer below chart : 1day Time Frame.
Keep your positional Trade with strict SL.
I would want to see Bajaj Electric to continue upmove and then taking a small pullback would be a buy signal for me.
Thus I would not enter right away if BajajElectric moves upwards.
My trade setup wouldbe as follows:-
Stock: Bajaj Electric, Swing Trade Cash Segment.
Risk Reward- 3:1
All Details are given in the chart
New Traders Should Learn Chart Patterns and Breakout strategies Used in the
Given Trade Idea.
Holding period will be 1-2 week
Note - This Trade Idea is only for Educational Purpose We are/would not be responsible for Any Profits or loss of yours
So Do your own research too.