Bajajfinance
Bajaj Finance - Megaphone PatternBajaj 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.
Bajaj Finserv (Make or Break point) but Long BiasPrice 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 on the Long Side, playing for Short Side might result in a choppy whipsaw once again
Safe Traders can buy above 6200, Risky Traders can buy at CMP with Stops below 5800
ACHIEVED BOTH TARGETS IN BAJAJ FINANCE!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 UNDERSTANDING. SO KINDLY FORGET ALL RETAIL PRICE ACTION IN ORDER TO BE AMONG THE 5%.