BAJAJELEC trade ideas
BAJAJELEC, LIVE TRADE ANALYSIS. HOW WE CAPTURED 6.7% PROFIT Tried making video tutorial but unfortunately some issue with my system.
BAJAJELEC was given for buy at 10:02AM today when it was at 1056. Soon enough it moved to target of 1077 but instead of booking, I took risk of carrying my position as in last few days this stock has given upper circuit and I was hoping based on consolidation in last 2 days, it can hit another UC.
This moved from 1056 to 1124 giving us good profit today.
Thanks
Piyush Gupta
Learn & Earn
Bajaj Electrical - Verge of a breakoutPossibly one of the hottest sectors in the market since the last 6-8 months in electrical manufacturing thanks to Dixon and Amber. As of last week PG Electropast also joint the past.
Bajaj is a trusted name in our markets and the numbers have done very well post covid. IF the company can stick to this runrate or anywhere close to it, there is HUGE upside left compared to its peers. ATH Breakouts are always very powerful and those one would be no different.
Long at CMP with a SL 5% below. I would start with a smaller allocation for this co because its too far stretched above moving averages and once it again tests its 10EMA or something i would add more to my position.
DAILY SWING CALL // Monday 11th of January 2021 / NSE: BAJAJELECDAILY SWING CALL // Monday 11th of January 2021 / NSE:BAJAJELEC
// This is a swing trade call and not an intra-day trade. Please do not expect the stock to go up on the same day of posting or within a few sessions. Please follow the notes along with the posting before, during and after entering the trade //
CMP / LTP: 665.35
TARGET: 765(15% Around)
STOP LOSS: 598 (10% Max)
Standard Notes:
- Please follow the Stop Loss strictly and preferably on a daily closing basis.
- Recommended Profit Booking / Exit is on +12-15% & If you still want to hold the stock, trail the SL once this target is achieved.
- Duration: 15-20 Trading Days is suggested for all my trades and is an indicative period.
- If SL / Target are not triggered and you still wish to hold the trade, this can be done as long as SL is followed or trailed.
Disclosure: I may or may not have a position in this trade.
Disclaimer: All the recommendations are subject to market conditions. Please trade at your own risks
Chart of the Week: Bajaj Electricals On the Daily timeframe chart we can see there was Head & Shoulder pattern formed in this stock but then, trend was very strong, so prices just kept going up and Head & Shoulder pattern voids and this stock is in strong uptrend. This week this stock had a breakout and is ready to go further up. Its multiple years High is 680. This is our first target and above 680 level, this will enter into a new orbit and previous support and resistance levels will no longer be valid for this stock.