BAJAJFINSV
Bajaj Finserv from 17 July 2020The stock is showing bullish sign in 4h Timeframe ... positional long can be taken.
There is consolidation zone present right above the 6403 level ..which might result in some high wick candles
MFI is showing sign of increasing .. though RSI and MACD in -ve zone --> consolidation zone very problematical
Targets --> 6664 -> 6905 (tough)
Trade setup :
Safe Setup : ( Sell 5700 PE + Sell 5600 PE ) + ( BUY 4800 PE * 2 ) to decrease margin total profit : 10K margin 160K
Nerves of Steel Setup :
1. Sell 5700 PE + Sell 5600 PE
2. Buy 6300 CE
use appropriate hedging to decrease margin
:: assumption taking 4800 PE *2 and 7200 CE total profit : 90K margin: 180K very risky : 48% success probability
Give me Green my Lord !Well a lord will help when you set your theory practice right. In the above analysis the pink box was support cum resistance which seems to have become a weak resistance point and can be a point of breakout spurt. Do check the volume for confirmation with price action
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BAJAJ FINSERV | Bottom is in.This is the cheapest you can get your hands on this stock for.
-Clearly there is a triple bottom formation and institutional buying at these levels
-Volume agrees with it.
- As a trader I would be a huge buyer if the price action breaks above the rectangle.
- If you're a long term hodler this is your time to shine.
Note: Considering Prime Minister Narendra Modi's declaration of an economic stimulus many businesses will see a strong upside. Although I would keep an eye on the current COVID-19 situation.
Happy trading!
-Kautilya.K
BAJAJFINSV ::: SHORTINSTRUMENT: BAJAJFINSV
TIME FRAME: DAY
OTHER TIME FRAMES FOR CONFIRMATION:
1 HOUR, 2 HOUR, 3 HOUR, 4 HOUR & DAY.
INDICATORS AND THEIR TRENDS:
PSAR: Bearish
STOCHASTICS: Bearish
SUGGESTED TREND: Bearish
Technical levels
CMP: 4606
Sell below: 4611
SL: 4631.18
TARGET 01: 4563
TARGET 02: 4541
My analysis of BAJAJFINSV is expected to continue its downtrend for some time now. On day time frame Stochastic & PSAR have confirmed bearish trend. Bearish trend is also confirmed in 1 HOUR, 2 HOUR, 3 HOUR & 4 HOUR time frames as well. If it closes below 4541 on end of day time frames we may also see 4504 to 4461 levels also.
RISK DISCLOSURE:
Technical analysis of FOREX and INDIAN MARKETS. We are not SEBI REGISTERED ANALYSTS the views expressed here are for our record purposes only. Please consult your personal financial advisor before investing. We are in no way responsible for your profits/losses what so ever.