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...
Stock has been able to break previous ATH on 2nd attempt.
Stock needs to break upper TL for more upside
It can come to test BO zone before moving up - will be good for swing in that case.
Good above 6430 only.
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...
It has been trading in range between 6100 to 6200 since 9th July.
6100 have highest Put open interest and 6200 have highest Call open interest in July expiry options.
6100 is working as immediate support and 6200 is working as immediate resistance. And stock is also taking resistance from the trendline shown in the chart.
It is worth to watch...