BAJAJFINSV1!29-11
Daily chart of BAJAJFINSV1!
LTP: 1645.15
Trendline (200 EMA) is bullish. Manual trend is sideways.
The first look pattern is similar to a bullish continuation flag.
Support is at 1517.15 (manual) and 1561.35 (200 EMA)
Multiple resistances at 1719.15 & 1774.50
RSI is below 50 and the arrangement is bearish as well.
First rule of trading is that one should never trade against the trend. Here, when the trend is bullish, our strategy should be buy on dips.
Keeping in mind that the RSI is bearish, we will wait for RSI to get in the oversold zone or closer and wait for a bullish reversal to enter into long positions for trading.
My idea is to buy between 1550 & 1575 with an SL of 1500 for targets of 1700++
Bajaj
BAJAJ-AUTO future outlookOn friday 30th July after 2months of correction off its high Bajaj-auto took support near a major trendline that started around december 2020 and levels of 3750 that have been crucial year long whether as support or resistance. Taking off todays high can take it back to the top of the triangle pattern!
Long Bajaj-auto above 3860 with SL around 3750 for targets of 4200-4250 (risk reward of 1:3.5).
BAJAJ AUTO - Flag Pattern TradeThe stock saw a good up move of approx 500 points i.e from 3450 levels to 3966 levels.
From the Past 8 Trading sessions stock has been moving in a range of approx 200 points.
Now there are two types of trades, that can take place
Support Trade :
Pros - good risk-reward ratio 😀
Cons - might get stuck in sideways move for a while, i.e it can test your patience.😌
Breakout Trade:
Pros: Immediate fast move.😍 i.e means immediate return, no patience-testing.
Cons: Low-risk reward ratio, fakeout can happen🤨
Bajaj Consumers Bajaj Consumers, Daily Time Frame,
Given Trendline Bullish Breakout
It's like ascending triangle pattern,
Along with Bullish UNGALI SETUP,
Weekly and Daily both MACD are positive and Aligned with Oscillators too.
All EMAs are Positive as per Requirement for Bullish Bias, One can go Long with Stop-loss of 268.
All key levels are mentioned in chart with Stop-loss and Targets.
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
Swing Trade Idea #219 : Long on BAJAJ-AUTOThis is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow it if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.
Bajaj Auto - Critical Decision Level @3100Bajaj Auto has been following a clear trend line with topside resistance. A parallel trend line with bottom matching makes it a 339 point channel.
Ignoring the covid impact from April to July the stock has been properly following the channel and gives a great call / put buying opportunity with minimal time decay to premium as it arises just a week before expiry at closing price in the range of 3100.
If the closing is above 3100 call for 3200 can give excellent return considering just 7 days to expiry and because it's a long trend channel break out the upside move shall be fast so results in prices can be seen before November expiry.
If it retractes from 3100 then puts shall be available much cheaper rate due to last 3-4 days upwsing and hence put of 3000 can show immediate result before November series expiry.