Explanation in Chart. Downside could be limited or temporary if so. Good fundamental script with nice dividend yield. Has a very good hair oil market share.
Hello traders,
Analysis and levels mentioned in the chart.
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Aniket.
9 week flat base. consolidation BO
prior trend is not that strong - only 70% up form low.
weekly action is tight with quiet volume followed by BO on high volume.
100 wma and horizontal S/R at around 230. so that may act as resistance.
Bajaj Consumer breaked out of important resistance near 200. Now looking to break wedge to test next levels 260-280 then 320-340. Stop loss 178.7
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Breakout from ascending triangle. About 7x volumes on breakout. Stock has had good delivery volumes as well.
Enter above 200
T1 : 218.5
T2 : 238
SL : 185
Not a very exciting risk-reward ratio but given the clear breakout with good delivery volumes as well as a moving average golden cross, I believe it is a good trade.
Thanks!
Tempting for a breakout momentum with volume support. Targets on the chart
Disclaimer : The opinions and analysis expressed herein are for informational and educational purposes only and should not be considered as individual investment advise or recommendations. I am not your financial advisor. Risk it for Biscuit.
