AMARARAJA BATTERY LOKING GOOD FOR SWING TRADEAMARA RAJA BATTERY looking good for a swing trade.
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The reasons behind the trade.
1. A triangle pattern had formed in this stock. The height of the pattern can be taken as the target for it.
2. The stock will soon give a break of its 50 ema.
3. and at last at the same price, the stock will break its flag and pole pattern.
Fundamental reason
1. the sales of automobiles had increased so the whole auto sector is being bullish and now it might be a bullish sign for Amara raja battery as well.
#AMARAJABAT #InvestmentIdeas #NIFTYAUTO #NIFTY50
Niftyauto
NIFTY AUTO on Focus for 2022CHART -> NIFTY AUTO WEEKLY SETUP
As seen per charts, Nifty Auto is trading under a channel which is in an uptrend from last several weeks.
Nifty Auto is making Higher Highs and Higher Lows. Other interesting point on the chart is that Nifty Auto is trading near to it's previous all time highs. We can see a run-away rally in Auto and Auto related stocks if those highs are broken.
One can keep this chart on focus for 2022!
Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI registered. Please consult your financial advisor before taking any action.
🏍 Bajaj Auto Swing Trade Opportunity 🛺NSE:BAJAJ_AUTO
📌 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.
📌 As One can see, This pattern is extended pattern, that's why stop loss quite big. So wait for perfect reversal first then only go for long and ones enter in trade then strictly follow stop loss and here as per my own experience one should take Stop Loss as closing basis.
(PRZ :- Potential Reversal Zone, SL :- Stop Loss, TF :- Time Frame)
PRZ 1 :- 3180
PRZ 2 :- 3165.5
SL :- 3051.85 (Closing Basis)
Target 1:- 3226
Target 2:- 3278
Target 3:- 3349 and more Trailing basis
Note:- As Per this harmonic pattern, stop loss is quite big, so Trade on reversal only if you don’t know what is reversal, Ask doubts in comments below.
******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are not SEBI registered.
Bajaj Auto Seems more Bearish Again nowDear All,
If you have a look on chart where Share Price had break it's major support at 3473 and closed at 3444. Now as per my analysis, this share will decline more towards 3300 level now where as it has a support at 3368 level but most likely it will break that level as well and reason are as below:-
Reason for such prediction -
#1 ) On RSI, it forms a Lower Highs and Lower Lows pattern which shows that next support for RSI is on 16% now, where as currently it is trading at 25%. If RSI needs to test it's support level at 16% then share price will have to decline up to 3300 levels.
#2 ) Exclusion of Bajaj Auto from BSE Sensex, where Wipro will replace it.
#3 ) Dip in Export Vehicle sales due to chip shortage problem.
Note - This Post is just for education purpose only, please do your analysis before taking any trade on my idea's.