Weekend Pick 2: Bajaj Healthcare
Fundamentals : Average, Stable on Sales and Profits. Increasing Reserves but little higher on debt!
Technicals : Bullish Trendline after good consolidation. *Big Volume Blast* .
R 1: 550
R 2: 610
R 3: 680+
In case of fall, avg small btw 430-400 SL : 360
#BAJAJHCARE
CMP 464.8
Bajaj Healthcare Ltd is a Pharmaceutical company with promoter holding more than 60%. Fundamentals not looking good. Share price got raised after getting EIR from USFDA .2.5 year long resistance trend line have been broken. Waiting for retesting. Technically looking good for short term.
DON’T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:25 pm every day
- Try to exit by taking 4-7% profit of each trade
- SL can also be maintained as closing below the low of the breakout candle
Now, why do I prefer BTST over swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 1-2 days...
ANALYSIS ON BAJAJ HEALTHCARE LTD :
STOCK SHOWING GOOD PRICE ACTION FROM BOTTOM AND TOOK A STRONG SUPPORT AT 285 LEVELS AND HOLD IT'S CMP BELOW STRONG RESISTANCE 330 LEVELS, BUT HOW MUCH IT CAN BE UP FOR A SHORTER PERIOD OF TIME .
AS PER TECHNICAL PARAMETERES IF THE STOCK SUCCESSFULLY HOLD ABOVE 233 LEVEL IT CAN GO UP TO 356.50 AS PER 200 DMA IN VERY SHORT TIME...
Simple price action. Formed cup and handle pattern and retest bottom .gave powerfull breakout with strong volume. Looks good for swing trade /short term investment.
Trading at 375, this our entry point.
Keep target 443 and 521.keep sl below 299. Script discussed only for educational purpose.
TECHNICALLY:
Stock is currently forming base and constructing sort of ascending triangle pattern if it closes above the 451 we can see it firing.
ABOUT COMPANY:
Bajaj Healthcare Ltd is an established player in the Indian Pharmaceutical Industry and fastest growing mid-cap pharmaceutical companies in India.
Various Active Pharmaceutical Ingredients (APIs), Amino...
BAJAJHCARE on Breakout and with good volume. recommended BUY above 425 tomorrow (Monday 5th December)
The information is not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendation.
NSE:BAJAJHCARE shows a bullish pattern formation:
A cup and handle formation
Breakout from the supply zone
Volume high
RSI heading towards 70+ (overbought)
Trade : Buy above 430, SL: 412, T: 442/455
Sell below 410, SL: 425, T: 400/385
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before...
it has given flag breakout on daily chart and taken support at 20D moving average.
and trying to break weekly channel.
volume seems to be relatively higher.
if it sustains above 400, then it is going to be a good breakout
