Bajaj Finance has formed a Megaphone Pattern. This is a very volatile script. Breakout already happened. Now when it retest the trend line buy at 4430 with stop loss 4280 for huge targets of 5140 and 5580.
Bajaj Finance after crossing All time high will become more volatile and will achieve the target in shorter time.
I think the history will repeat the share Bajajfinance will once more make a head and shoulder pattern(half already formed) lets see what happens
write down in the comments section what you feel now!!
NSE:BAJFINANCE has again entered in the bullish trend with trading above 50 & 200 EMA in daily chart. Retesting the 3519 level with rising triangle pattern, if breaks and sustain above then more upside.
Price is currently resting at a Strong Support Zone, which is a confluence of:
1) Anchored VWAP Support from the May Bottom
2) Trendline Support from the May Bottom (3 valid touch points of Trend Line already done)
3) Price at Lower Range of the Box
We also witnessed a False Breakdown few days back, hence if it had to fall it would have already. So better to play...
Call Writers/Put Buyers surely made some good money after 12th October :)
I had given these levels before it even happened. Kindly crosscheck with Trading View ideas published.
ALSO WATCH THE PRICE ACTION AT BOTH THE LEVELS. LOOK AT THE HOW PRICE REACTED TO THE LEVELS AFTER 12TH OCTOBER. THIS IS REAL PRICE ACTION.
YOU WONT BE ABLE TO INTERPRET WITH RETAIL...
As you can see clearly , Institutions have gone to take out for liquidity and is now showing signs of reversal. Red line is the resistance and price should fill it before turning bearish. Blue lines are take profit lines.
Disclaimer: I am not a SEBI Registered Advisor. This post is purely for educational purposes only. I will not be responsible for your profit...