Bajaj Finance has given head n shoulder break out on daily charts with rising volume almost after 6-8 months of consolidation. One can buy on dips around 2010-2025 with stop loss of 1900 (closing basis) for Target of 2150-2200 in coming 4-6 weeks.
I posted this chart on 17th April 18 expecting a correction since 50 DMA was crossing 200DMA on the downside and also the price was facing resistance at 2000 and also Triple Top. The correction has taken place it seems. Now 50 DMA is giving an upward cross to 200 DMA. It is possible that price may breakout.
The stock created a base at 1600 and rose steadily. Now price is facing resistance of Triple Top at 2000. 50 DMA crossing 200 DMA downwards could not make a dent which indicates that the stock is in strong bull grip. Now 50 DMA is about to give an upward cross to 200 DMA and we may expect a strong breakout. Before that consolidation is possible.
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Doji at Trendline resistance followed by selling indicating weakness.
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Flag formation can be seen on the weekly chart. Expecting a breakout which could further lead to a good rally as the major trend has been upwards.
Stock Personality 100D EMA Daily Demand Zone Trendline Support Buy - 1774 CBSL - 1710 Target - 1970
Buy - 1810 - 1815 CBSL - 1705 Target - 1972
BajFinance achieved the fibo targets of 50% & 61%, it has not been published earlier. Now for intraday purpose we can short BajFinance below yesterday's low at 1882 and long above 1905. at these levels the prices can reverse also, so trade accordingly. Since it closed below 50% level, so we can assume it to be bearish next day.
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SHORT BAJAJFIN @ 1150 TO 1155 WITH POSSIBLE TARGETS OF 1100 AND 1080