Bajaj Finance has hit a confluence of resistance. Should be a good place to initiate shorts will stop above 50 SMA.
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Falling nearly 10% yesterday, the stock is exhibiting some fight back by gaining 5% (at the time of posting). The bounce was helped by demand zone between 3360 & 3375 where we could also observe 50 SMA level. That justifies the bounce technically. Currently the gain has run in to level where it appears to shown some loss of momentum partly because of the...
Short Bajajfinsv Below 5550
Target 1: 5160
Target 2: 4955
Risk 3.50% & Reward 10.75 %
RR Ratio - 1: 3
RR is Calculated on 2nd Target.
Reversal or Continuation Pattern
Prices are moving upward, forming higher highs and higher lows, but the price is confined within two lines which get closer together to create a pattern. This...
BAJAJFINSV broke out of the Yellow channel and Green wedge.
Theoretically, it should retest the breakout level .
A retest of green Wedge or yellow channel is possible.
Or just that it will breakout of previous high candle wihout retesting for now.
in daily, price broke out of congestion area with good volume,
also price broke out of horizontal resistance with good volume and BB is expanding .
sl - 4265, 1st tgt - 4630, once price goes to all time high , it ll be quite bullish