Breakout at Resistance LevelNSE:BAJAJ_AUTO has given breakout to resistance level which will now act as a support. If sustain above this new support level then likely to move upside.
BAJAJ_AUTO trade ideas
Bajaj Auto- Long Term Breakout(Investment Option)Bajaj Auto is one of the renowned names in 2 wheelers segment.
If we look at this chart which is weekly it is showing that it has been in a consolidating phase since last Oct 2017 which is more than 3 years of consolidation. Now it is trying to go out from the consolidation zone. It has tested its resistance already for 4-5 times.
Even in Monthly chart signs of consolidation and breaking out is visible.
Monthly Chart:-
Rectangle marked near resistance is showing that stock is now sticking to higher levels.
look at daily chart as well.
Anything unusual?
I will say yes because price is now not even able to come down 200 ema and sticking at higher levels.
Finally the Target part. Target of the consolidation breakout is usually the difference of the consolidation.
Don't forget to check the volumes which is being generated even at higher levels. What was the last time when we saw these kind of unusual volumes? (I have marked already).
Keep an folks. Happy Trading and Cheers.
#BAJAJ_AUTO CASH : LOOKS GOOD ABOVE 3160.10#BAJAJ-AUTO CASH -Positional call
26.11.2020
LOOKS GOOD ABOVE 3160.10
STOPLOSS 3120
TGT 3240/3300
CMP 3130
BAJAJ-AUTO, TREND LINE + DARVAS BOX BREAKOUT (CHART# 375)All levels & analysis mentioned on chart.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators. Reach out if you wish to learn powerful technical analysis based on simple price action.
Thanks
Piyush Gupta
BAJAJ AUTO : Positional Buy Trade SetupNSE:BAJAJ_AUTO
Hi Traders,
BAJAJ_AUTO trade setup and entry and target level on chart.
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* This analysis is educational/learning purpose only.
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Ascending Parallel channel in BAJAJ_AUTOAscending Parallel channel in BAJAJ_AUTO
Support and Resistance: Traders could open a long position when a stock's price reaches the ascending channel’s lower trend line and exit the trade when price nears the upper channel line. A stop-loss order should be placed slightly below the lower trend line to prevent losses if the security’s price abruptly reverses and also vice versa .
Breakouts : Traders could buy a stock when its price breaks above the upper channel line of an ascending channel . It is prudent to use other technical indicators to confirm the breakout. For example, traders could require that a significant increase in volume accompanies the breakout and that there is no overhead resistance on higher time frame charts
Breakdowns : Before traders take a short position when price breaks below the lower channel line of an ascending channel , they should look for other signs that show weakness in the pattern. Price failing to reach the upper trend line frequently is one such warning sign. Traders should also look for negative divergence between a popular indicator, such as the relative strength index ( RSI ), and price. For instance, if a stock’s price is making higher highs within the ascending channel , but the indicator is making lower highs, this suggests upward momentum is waning.
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
Can this bounce back to the resistance?Expecting a new high (3120). However, the midline of the range screams caution.
Bajaj Auto | Long above 3160Chart should be self-explanatory.
Expecting start of wave 3 soon on daily.
Bajaj-Auto - Awaiting Trendline BreakoutAs per Chart , Awaiting Trendline break-out on weekly chart...Once this break-out is done big Targets coming up...Bullish Biased...
Bajaj Auto Kya Gadi ChalegiBajaj Auto is ready to get out of the Darvas Box. If this closes above 2990 then buy with Stop Loss of 2935 for Target of 3100++.
20 DEMA is going to Cross 50 DEMA which is a positive sign.
Up coming buy set up One can wait for this small term correction to complete before it reverse for Up side move ,
Look for position yourself if you are holding Long , and if you are not long then wait for correction to complete before you get a buy set up
Buy only when you see Green candle on 1 hour or 2 Hour time frame ,
Good luck
