Bajaj Auto : All set to repeat history
A basic support-resistance trade. The trend arrived at previous support and reversed. The long wick of the red candle indicates bullishness. Next candle is red owing to geopolitical scenario. Enter with futures, EQ when a green candle is confirmed. Keep SL at 2698.86. If SL is hit then short 2700CE, or exit the trade Trail the stop loss if it turns positive. If SL
BAJAJ AUTO has reached its two month resistance point. The next resistance is at 3100 looking at the current market situation its highly unlikely to break both the resistance. Risk tackers can sell 3050 CE @ 43 Moderate risk tackers can sell 3100 CE @ 25.50 Low risk traders can sell 3150 CE @ 12.
BAJAJ_AUTO is moving in a longg flag for a while. Rising Parallel channels.
BAJAJAUTO completed the blue Gartley and the Cypher pattern. In the Cypher Pattern, it Can move till X if it crosses above D,since there seems to be a consolidation/flag/range at D level.. A breakout from the Flag near D will decide the direction.
BAJAJAUTO is in Reversal / Break Down zone. The long term median line acting as a good support/ resi, as price swings above and below it.
Support resistance with red wick indicating bullish trend
I am looking one more move to up side before correction in this stock Lets see what happens Regards
1. We have two fib ratios in confluence . 2. Completed head and shoulders and a cypher in place . Don'tknow how to approach this one
Forming an Inverted Head n Shoulder pattern. Closing above 2820-2825 is required to make it reach the above resistance near 2925-2930. Keep watching.
Breaking support line 2750 and closing below 2750 Can lead further Downside in Bajaj-Auto. Short Around 2730-2740 Sl 2795 Target 2600 And 2515 (50% Ret.)
Bajaj Auto - The stock as broken out of major support zone as well as broken a long term ternd-line. There is a window (gap) created wich indicated high selling pressure and the window will act as a resistance as well. Keeping our stop above the window and target in the next support zone, the risk to reward comes to be 2.5. NSE:BAJAJ_AUTO
I am looking for reversal indication Near 2632 +- 10 Points , since stock gaped down and its a potential selling climax , the stock will head Near 2666 , I will look for reversal sign in Daily Candle in next week This information is only my personal view Regards
Week technical structure of today's trend shows to so short.
TECHNICAL STUFF HARMONIC PATTERN IS VISIBLE HERE. TODAY THE STOCK BROKE THE SUPPORT LINE DECISIVELY. SO GOING FORWARD THE STOCK WILL BE BEARS FAVOURITE. THE NEXT SUPPORT SEEN FOR THE STOCK IS AT 2515 WHICH IS STILL 200 POINTS AWAY. ITS ALSO THE B POINT IN HARMONIC FORMATION. IDEALLY FOR HARMONIC PATTERN TO WORKOUT THE STOCK WILL SEE A BASE FORMATION IN THE ZONE...
Bajaj_auto has taken support at 2750 for multiple times. This time with double bottom and a hammer on a daily candle. Target 1 - 2825 Target 2 - 2850 ( It can go higher too). Sl - 2749
Bajaj Auto is bouncing from support of 2750 multiple times. Watch out that level for creation of any long position.