bajaj finance currenty 2 times facing 8000 level.
Now when its come 3rd time its not an important level as resistance for me.
its currently did pattern "cup & handle "
8% immidiate target .
our stoploss is7600
buy in its green zone.
1) On Daily Time Frame: It has closing below 10DMA since last 4 days. And as per history, it remains below 10DMA for few days only. There may be case that it will break and will cross over it.
Please refer below chart : Daily time frame.
Just for reference.
Please refer below chart :...
EXPLANATION : This is a 30 Min time frame chart of BAJFINANCE . It has formed a Bullish Flag Pattern , If stock break the flag with high volume I am seeing a very good opportunity in BAJFINANCE . ( Use Fiboncci )
Please refer below daily chart for BAJFINANCE.
1) I can see 7486 level in short term, only if it maintains to stay above 6750 level then it will be sure buy trade. Then any dip above 6750 level will be buy opportunity.
2) Only one negative thing is that on daily chart RSI suggest 78.79 which is almost near to 80 and it can be consider as over...
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
Bajaj Finance has been a green bull ticker for the past 3-4 days and broken out of an Ascending triangle channel with good volume
Moving Averages looking up, and MACD also under check.
However RSI is at 70 and can be waited for a trading session to see if it cools down.
Stop Loss is kept tight to avoid much downside at the bottom of the 2nd last candle.
1) On 1hour time frame we can see that is near the critical channel zone. From which it has make it reversal in past. But this time will it be able to make it?
Please refer Chart below: 1hour time frame.
2) On Daily Time frame, we can see that it faces resistance and closed below 21DMA...
Simple Trade Setup:
On Daily Time frame it remains below 21DMA which is placed in range of 6190 level. But today's daily candle looks pretty much reversal.
Please refer below chart.
Now on 15min time frame previous trade levels will remains the same. Levels and targets are mentioned on the chart. Hope...
Simple Trade Setup
If it opens in no trading zone then wait for first 15-20 minutes to let the early trading noise get settled.
Once it break 6230 level or trendline then it will be entry for buy trade. But a 15min candle breakout of this is required and it should be followed buy 2 - 5min candle trading above this level.
Don't jump in to...
Today Target 1 of 6278 hit easily and even if some might have hold then one can have achieved till 6300 easily.
After that it went down and surprisingly it closes in range of our entry zone which is at 6230 level. This level was previously acting as a resistance Zone.
About Open Interest
6300 level will be deciding level as today it had...
Today, 23-07-2021, BAJFINANCE took support from trend line but couldn't trade above our entry point 6230. It made 6225 high but faced resistance from there.
Our levels and target remains same. Buy/long trade will be only activated above 6230 levels. It closed today above 6180 level which is also our marked level. If this level works as support...
BAJFINANCE looks positive to buy above 6230.
Option chain data shows short covering/call unwinding till 6500 level. Also highest open interest is at 6500 which will act as a good resistance in this July month.
If it goes down to test the support till 6180 or even low to 6130 then wait until it gets support from there and gives sign of reversal...
GOOD FOR A QUICK OPTION
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
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