NSE:BAJAJELEC
Bajaj electricals falling with a low momentum on low volume.
if it closes above 1150 then enter long.
stop loss below the support of 1115.
here is the daily chart
the break down level is also mentioned on the chart and the weekly support line can be used as a target.
Idea Only for educational purposes.
I hope you found this helpful.
Please...
Price is forming a flag pattern on the monthly time frame. Price moved from 260 to 1140 in 10 months and is now trading in the range of 980-1230. Hence forming a flag pattern. Technical analysis works better on higher time frames. Hence it is the time to study the stock.
Weekly Triangle breakout + retest. (Positional/swing trade)
Trade idea 1: Buy above a weekly closing of 1240.
Targets 1315-1380-1440-1500-1560
SL - weekly closing below 1100.
Trade idea 2:
Buy now around 1190 with a
weekly closing of 1100 as your SL
Targets 1240-1314-1380-1440-1500-1560
Always trail your profitable trades using trailing SL
This is just a view.
Patterns are the distinctive formations created by the movements of security prices on a chart and are the foundation of technical analysis. A pattern is identified by a line connecting common price points, such as closing prices or highs or lows, during a specific period.
Can buy at current price & 1st Target is 1176 & 2nd Target is 1229
Stop loss below 1090
This is only for educational purpose kindly trade at ur own risk
Thank you
I AM NOT SEBI registered advisor please consult financial advisor for your investment.
This is only for educational purpose you can also share your thoughts on the comments
\\Representation:
**Green dashed line--Supportive line
**Red dashed line--Resistance line
**Red dotted line--hidden resistance line
**Black up and down arrow--touches of support...
This post is only for knowledge purpose. Kindly do your own analysis before taking any trade.
Bajaj Electricals gave a strong breakout with good volume.
Let it retest then only one can take long position using Bullish Candlestick.
Stoploss: 1130
Target: 1350
Please boost the post if you like it. :)
DON'T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:25 pm every day
- Book profits within the first 30 minutes of the market opening
- Try to exit by taking 3-5% profit of each trade
- SL can be taken when the 5/15 min candle closes below 44EMA
- SL can also be maintained as 1% or closing below the low of the breakout candle
The levels mentioned...
The analysis is done on weekly TF hence price may take few weeks to few months in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock...
As we can see, Bajaj Electric has sustain above the support zone for a long period. It has given the Break out from the Symmetric Triangle and reached to next supply zone.
At where it is consolidating with low volume. As we can see in chart last two candles, bears are trying to take stock down but bulls have upper hand.
