Low risk setup, almost catching a falling knife but if you know your risk can attempts
Yesterday's low can be a strong support/SL
Entry today at CMP, risk comes at 4-5% keeping yesterday's low + transaction cost
Bajaj Finance is a great fundamental company and hence we can take a shot here.
Disc:- invested today at 6615
2018 High Crossed in 2022 - 4 years high crossed (Breakout)
Look at the volume bars during and before the breakout, volumes on up days are high
Giving a good entry point now, since the stock is retesting the weekly breakout
On the Daily chart the stock is taking support at SuperTrend location
Entry at CMP looks great, stop-loss could be ST or Rs 1775...
If you look at the downtrend, everytime it tries to cross or breakout above 20EMA it falls back
Observe the SuperTrend was always in selling when the stock was trying to breakout above 20EMA
This time the breakout is different, it is above 20EMA, above SuperTrend and the strong body candle
Stop loss could be median of the breakout candle or the low of the...
Rectangle breakout on the weekly chart.
The breakout is supported by good volumes.
The Momentum indicator MACD turned green on the latest weekly candle (Just for BO confirmation).
Buying can be done at CMP ~ 635
Stop loss would be breakout candle low on daily which is 616
2017 high is 661, which should be taken out sooner or later.
One can add few...
Made a short-term top at 1400 levels, retraced for ~4 weeks with price correcting close to 26%, made a bottom at 1023 levels, and now it looks the correction is over and it is heading higher. The journey towards 1400 may not be easy though. Trade with SL.