BAJAJFINSVForming Evening stars & also at trendline resistance.
Two evening stars at trendline resistance makes a potent signal to short.
BAJAJFINSV trade ideas
DOUBLE TOP PATTERN IN BAJAJ FINSERVThere is double top formation in bajaj finserv alongwith evening star candle pattern on daily chart. On breach of the trendline, it can be shorted with a target of around 8820 which is the central pivot of this month and 8600-8800 will also act as a demand zone for the stock. CMP is 9270 and daily ATR of the stock is around 190 points.
Observation of two time-Frames for BAJAJ FIN is downward trend.By looking at daily chart shows a lot more clear vision of next moment for investors activities. The price is trading between value high to control price 1 .
Scenario 1:
If the price starts to fall then the next target will be at previous resistance in 8595 and the gravitating target can be easy 8400.
Scenario 2:
Lagging or late fall then price can move up for little and then price fall will be starting late.
1month candlestick.
BAJAJFINSV has formed a solid tight up-channel. The considering long term trend, the current is going down. Though as per the time cycle, the downtrend is too far from now to start, the price is already reached at a value high and started to fall. The Previous resistance was is at 8585.
BAJAJ FIN SV MAY FALL TO 8899 LEVELS SOONER...BAJAJ FIN SV MAY FALL TO 8899 LEVELS SOONER...
ENTRYLEVELS: 9250-9300.......
STOPLOSS: 9325 ON 1D CLOSING BASIS....
Ending Diagonal ( Possilble structure) One of the most important part of stock market is identifying the next move , and usually they represent in the form of structure a visual identification
Most amature ( Tweeter ) traders try post after the effect ( the move done ) and they try to convince rest they know well ,
the fact is , no one has idea how one scrip ends , the only possibility is finding the nearest suitable structure for current price movement
and trade in the high reward trade set up
One can look for ending of this move , as its moving very narrow range , and look for sell set up
BAJAJFINSV CASH : GOOD SELLING ZONE 8895-8910 LEVELS BAJAJFINSV CASH
08 DEC 2019
SELLING ZONE 8895-8910
STOPLOSS 8960
TARGET 8810/8740/8670
(STRONG SUPPORT AT 8650-8660)
CMP 8853
bajaj finserv short ideacmp is 9110. we can see evening star pattern in bajaj finserv on daily chart. this is a very strong reversal pattern. downside can be seen till 9000 and if it continues then we can also see 8744 levels.
Bajaj Finserv. long term divergenceBajaj Finserv is a classical example of why divergence can be tricky.
monthly RSI has been forming lower highs but PRICE has been making higher highs..
divergence works better on daily charts, especially triple or quadruple divergence
just something in noticed. please correct me if i am wrong.
