https://in.tradingview.com/x/yDnb8oRj/ NSE:BAJFINANCE has generated a sell signal on daily charts but 1780 is acting a tough support from yesterday on hourly charts and 1810 a tough resistance. For further downside it needs to close below 1880 on hourly basis else chances are it can bounce back. Downside targets can be 1700 and below.
A move below 1830 might test support trendline. Weakness: 1. SMA(50) crossed below SMA(200) 2. MACD(12,26,9) looking weak. Weakness will be confirmed if it crosses below Zero. 3. ROC(5) crossed below Zero. 4. RVI(10) crossed below 50. Worry: 1. Volume is also low meaning consolidation is in progress. Conclusion: Watch volume. This CHART is for Educational ...
BAJAJ FINANCE is moving in an up channel for over a month now. Ranging in the yellow zone on this leg, and testing the edge of channel Creating smaller range and small bodied candles,indicating a breakout soon (in any direction). or it can continue to move between the range created. before breaking out of dashed pink lines Also respecing the Gann Fan Levels
The stock is in uptrend so one should follow the trend until it changes and try to enter long at appropriate level. The stock has formed a Broadening Formations and yesterday's Green bar and today's trading above it are indicating a potential long at this level. Stop Loss closing below the lower line.