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Correctivewave

Bajaj Finance: Shifting Price LevelsBajaj Finance fell today post result declaration. A mega bull run has halted temporarily. Much need correction in price has been started. Scrip is following consolidation followed by a brief upmove strategy, Thus shifting price levels in a ladder-like structure. It will retest the 3115-3130 levels on further correction( lower levels of Top-most rectangle). And can start its uptrend journey here to 3500 levels. If broke the 3115 level, expected further correction till 3010.
NSE:BAJFINANCE
by finalyticsbreweries
10
NIFTY50NSE:NIFTY got stiff resistance around 11860 levels, moving above head of hypothetical pattern will make the pattern invalid and holding above it for sometime will only push stock towards 11935/65/00 levels. If the H&S pattern comes into action, index may fall towards neck line of the pattern and if breaks and hold below neckline may push further down towards 11450 levels. SUMMARY- Holding above 11860 ---> 11935 ---> 11965---> 12000 If H&S is valid then from current levels expect fall for targets 11725 ---> 11660 (neckline) --->11625 Consider 11625 as crucial support because ---> 1. The first reversal pattern has failed from the same level. 2. It has gap up formed on 20th may (exit polls), which will act as support and the height(target) of the head of second continuation pattern. 3. Again, at the same level it may form double bottom or ugly triple bottom. Holding below 11625 for sometime----> 11450 REGARDS, SHARMA YOGESH
NSE:NIFTY
by yogi_sharma_elliottician