Dear Traders
1- Look at the strong demand zone, every time the stock has been respecting the same demand zone, it comes to this level and then bounces
2- There is a strong trendline which is coming from a few weeks, the high probability the stock may come to the same trendline again
3- It has made a perfect double top pattern
4- It has made a bearish engulfing...
I am not sure about taking a long position, given the weak market outlook.
Just sharing a few stocks I am keeping a track of which have reached their trendline support and might be a good time to accumulate in piecemeal.
Bajaj Finance has reached EMA 200 from where it bounced previously as well, key level to watch out for imo
Not an Investment Advice. I am just...
7100 pe up from 34 to 114.
no further selling at this stage,
please wait for pull back.
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please go through related ideas on nifty and bank nifty
long this stock now as it is near 50% correction after harmonic pattern with red color was completed and maintain strict stop of 7273 as it may fall like anything below this and bullish abcd kicks in from here for target of 8850
good luck
trade at your own risk.
BAJAJ FINANCE is within a channel. If the market respects the support zone today, we can expect the trend to go within the channel and trend can reach the nearest target ,ie -RS 8000
As per daily chart price is above both 50 and 200 moving average so long term trend is bullish and in short term price went below 200 ma and close above that after taking support.
Go long with a target of 9000 with 50 ma as trailing Stop loss
Bajaj finance has retested in neckline 7472.35. If the price moves up side,
SHORT TERM TARGETS
TARGET 1 - 7676.09
TARGET 2 - 7842.75
LONG TERM ANALYSIS
TARGET 1 - 8416.15
TARGET 2 - 8669.40
If the price fall below neckline stock price can move down up to 6885.30.
Fundamentals:
For the last ten years revenue and net profit has grown well.
Current ratio looks...
We can spot bearish BEARISH DIVERGENCE on 15min frame. we can go short if it breaks 200EMA and the HIGH VOLUME AREA on 15min frame and for long entry we have to see if it sustains above 200EMA.....BIG MOMEMTUM IS EXPECTED DUE TO ITS QUATERY RESULTS.
Bajaj Finance is going to declare its quarterly result. But before the fundamental analysis the stock is in consolidation from last week.
On breakout can it can test its new highs.
Wait for the breakout and trade with proper target and stop loss.
Bajaj finance as give a close above Month on Month resistance and can create new ATH.
Flag and pole pattern once broke on the upper side and give buy opportunity for the Target of 8000.
Bajaj Finance create Rising wedge chart pattern ( Bearish Wedge chart ). If stock breakdown the chart then only we shorting opprtunity find with volume . because continue Bajaj finance is rallied.
