Bajaj Finserv has been trading in a range and forming rising wedge pattern on the daily time frame.
The stock has been taking support from 20 DMA and has closed just near the level.
A morning star pattern is there on the daily time frame.
Stock has closed between both the moving averages on the hourly time frame.
An entry can be made in the down side, as...
Bajaj Finance (Daily)
1. XABCD - B is taken out means the Bearish harmonic Pattern is triggered.
2. Now it must defend 6,125 to chart ahead towards 6,400+ territory.
3. 6,125 (+/- 25) zone is a confluence of Fib + 7th March 2022 Low (Line Chart basis).
4. 25EMA and 21EMA are parallel (not yet merged) which will provide a base for the move upwards.
5. Thus we...
Bajaj finance has been trading in the in triangle formation.
On a daily time frame analysis, there is a bearish moving average divergence.
The stock has been taking support on its 20 ema on hourly time frame.
The markets are volatile. So, wait for the price action and a break out of the triangle.
Support :- 5753, 5655
Resistance :- 5900, 6000, 6120
Please have a look into the chart to get all details, I have tried to draw everything as much i found according to my study.
This Analysis has Based on Harmonic Pattern , Fibo & Price action.
Note:- A Possible Harmonic Pattern has drawn, may get Invalid. Then mentioned Levels will be considered as support & resistance.
If agree with the Analysis, Then...
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called...
📈 BAJAJ Finance Ltd. 📉
This Stock Broke out from a Resistance zone of 7200-7300 after testing two times this range on upside with a strong green candle. Yesterday Also tried but all sold off as you can see in chart.
Bias - Long
Target - 7852 to 7933
SL - 7008
All Important Supports and Resistances are drawn in chart. All levels are on closing...
1) On 1day time frame, we can see a resistance channel.
Please refer below chart : 1day Time Frame.
2) On 15min time frame, we can see both resistance and support channel.
Please refer below chart : 15min Time Frame.
Trade Setup for 25-03-2022
1) Don't Jump in to trade at...
Bajaj finance has given a bullish reversal pattern and has closed above 50% fib level.
It may test its 61.8% levels before retracement or reverse from 50% levels
Wait for a the levels to sustain above 6970.
Resistance :- 6600,6750
Support :- 6338, 6249
Simple patterns can be traded with confirmation
1) On 1 day time frame, it is taking support near from 200EMA and since last 3 days making lower lows.
Today it made doji candle. right now immediate support is at 200EMA which is placed at 6684.79 level range.
If it trades above Today's high then only it will be buy trade.
Please refer below chart : 1day Time Frame.
1) On 1 day time frame, it is just below the 21DMA which is placed at 6988.11 level
200DMA is placed at 6465.15 level which is major support.
If it trades above 21DMA then there will be chances of up move. But if it faces resistance then it will be down fall again.
So we can see that 6990-7000 will be major range. It will work as...
These levels are for this week of Nov 2021.
1) On daily time frame, we can see that it took good support from 10DMA but closed below 21DMA.
10DMA is placed at 7545.32 level
and 21DMA is placed at 7676.76 level.
21DMA is immediate resistance while 10DMA is immediate major support now.
Please refer below chart : 1 day Time...
All the levels and trade setup remains same.
Trade Setup for Date 22-10-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit...
1) On 1 day time frame, we can see that after opening gap up since last two days it is facing profit booking.
But good thing is that it took support from 10DMA and closed above 7850 level. Which is partially good sign for BAJFINANCE.
If we see in recent days, it spend very less days below 10DMA. Hence breakdown of 10DMA on daily...
EXPLANATION : This is a 15 min time frame chart of BAJFINANACE , It has formed Symmetrical triangle pattern ; A symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trendline indicates...