Current upswing ended few days back, and gap down of lat week has sustained for the whole week. May be we should book profit and wait for next upswing or take short position.
- The chart is pretty self-explanatory.
- If you look at the PE, It has come down substantially from about 100.
- The crucial resistance zone is an important obstacle. A break and sustenance above it could mean further upmove.
- Invest with caution as Investors are getting greedy post the bull run.
What are your thoughts? Leave us a comment.
Disclaimer:...
Bajaj Finance's chart is whispering echoes of the past! The current price action shows some similarities to the consolidation period seen before the start of its previous major bullish run. If history rhymes, a breakout above this range could signal the start of another exciting upswing. However, past performance isn't a guarantee of future results, so keep a...
This is a Learnig Post :
> Price Action Pattern Repeats on the Charts
> The Stock formed W Pattern at the Imp Support & witnessed Good Recovery
> It may Come for Pullback Retesting
*No Stock Recommendation
For Chart Practice & Learning Purpose
Gave a clean breakout of a price range into new price territory..So we buy..It looks like a cup and handle pattern...So buy..But keep stoploss incase breakout fails
Bajaj finance make hammer at bottom or near its trend line and after that strong bullish candle close which gives bullish signals in weekly chart
Buy it at 6806 (if it close above it )
Target 7055 7215 7504 8024
Sl 6280
Tym 5-6 weeks
Review:
• Head and Shoulders Pattern: A bearish reversal pattern is present, suggesting a potential downside. The target for this pattern is in the range of 6115 - 6042.
• 21 EMA: The 21-day Exponential Moving Average (EMA) is rounding off, which could indicate a loss of momentum for the bears. A flattening EMA might suggest the downtrend is losing steam,...
Head and Shoulders pattern is observed in this stock...
recently price broken the neckline...
Demand Zone is observed at 6000 levels...
if neckline acts as resistance chances of fall back is more.
this stock price is now in consolidation a retest to the neckline may be observed before pushing it downwards again...
find short opportunities in this stock.
If no...
The market leader has corrected to fall at long term trendline support.
Keep this in the list to be studied.
Note: This, like all other posts, is not a buy/sell call. It aims at spreading awareness and anybody making a financial commitment has himself/herself to credit for gains and blame for losses involved.
#BajajFinance #BAJFINANCE #NSE #nseindia # bseindia
I used weekly Scale for this TA ...........
=> Target of Head & Shoulder pattern is near 6000/-
=> Must Start Accumulation below 6000/-
=>Bullish Divergence
=> If there is a Bullish Divergence in Price and RSI as earlier (i.e. 19May202 - 13June2022 and
23Jan2023 - 27March2023). Then one must Buy it after Bullish Divergence Confirmation.
=>...
