Stock still respecting its near Support & Resistance #NIfty Stock still respecting its near Support & Resistance , time for a beautiful strangle option selling and continue to ride fun.
BAJFINANCE trade ideas
finding an edge ,bajajfinancehello hope you guys have gained from last trades ...
looking for long ,as it has taken support on broken resistance with hammer candle.
BAJAJ Finance - on Narrow range - showing bearish on Parameter#BAJAJFINANCE is trending between level 3420 and 3122 (200EMA). Today stock open with Gap Down but due to bearish sentiment in market it trade down and touched the level 3122 (200EMA) and got good support and closed above. Stock is moving in narrow range since 7 days and a gap UP/down opening can show reversal tomorrow 15 July.
Showing Bearish result in Technical Parameter:
CCI is bearish
RSI is treading down
stoch is reversing from overbought zone
PSAR indicating bearish reversal
ATR is decresing since 3 day
High decrese in Future OI
Long Cover
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Support : 3123 and 2983
Breakdown : 3144 (OR Gap down opening)
LTP : 3190
Breakout : 3225 (OR GAP UP opening)
Short Target : 3313 and 3380 and 3420
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Positive & Negative Point:
1) Bullish in Daily/Weekly chart
2) Neutral in Monthly Chart
3) Increase in relative strength - Sectrol
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(Disclaimer: This is only for educational purpose and paper treading.)
ANATOMY OF BAJAJ FINANCETHESE LEVELS ARE ONLY FOR SWING ..
DOUBLE BOTTOM
IF NECK LINE BREAK THEN ROCK IT ....
Bajaj Finance captured down trend Detected the down side movement.... Please refer the chart for analysis...
Bajaj FinanceBuy Bajaj Finance using Elliot Impulse Wave and three Trend lines yellow, green and red trend lines . Buy at 3118.40 price .Target of 3734 around 18% . Stop Loss is the red line around 3.61%- If it starts breaking the red trend line . Then it can go Down. Also RSI there seems more room for downward movement once it reaches around 36 RSI Level then Buy.
For me its Bullish Candle #Nifty #BAJFINANCE I would like go long on Wednesday July 15 Market as its took and respected its support
And sellers were not able to take down the stock further down, and 4 hour candle suggest good momentum and this type of hammer candlestick pattern one day time frame I always look for.
Bajaj finance range tradingBajaj finance trading in range market can expect price movement in upper side. Delivery is high near support area seems buyer will dominate tomorrow.
BAJFINANCE looking weak on 2H chart Stay neutral for swing. NSE:BAJFINANCE
On 2H chart BAJFINANCE started to becoming weaker. Stock facing good resistance between the range of 3320-3420 while 3125 will be immediate Support for stock.
On 2H chart if stock manage to breakout 3420 with good volume and candle closing near high it will open for fly for target of 4040.
But if the stock breaksdown 3125 it will then likely to show 2835 and even 2655. For breackdown too we need to see strong confirmation with volume.
Though the stock is weak I will not make any decision to short for swing trade right a way until and unless I see any strong confirmation for same.
I will prefer to stay neutral in this counter and keep this on watch
Bajaj finance a conditional sell candidateBajaj finance :-
Darvax box consolidation are peak levels,
Rising Wedge pattern,,
Bearish harmonic Shark pattern fomation,
Bearish divergence on RSI indicator,,
50% Time and Price retracement,,
Breaking below 3190 which is support as per darvas box and also trend line support of rising wedge pattern,, and sustain would lead to fast and furious fall,, for 10-15-20%,, view gets negated above recent high on closing basis,,,
Target for BajajFinanceBajajFinance looks bullish on chart for target 3800.High volume on monthly charts and trading above 200 EMA.
Positional trader can hold until 3100 is broken.
Multiple Rejection & Consolidation #Nifty #BajfinanceMultiple rejection and now consolidation at support and Resistance level looks like according to me that it should retraced on Monday at its Fibonacci level & which is its support level also .
Bajaj Finance - ElliotsToday's peak - 3310 is motive wave of corrective wave, i guess. please wait for the entry. Let's see how the analysis will work
3880 is where we go but first 3030.Golden cross on the daily a week away at least when the real moves begin , on the weekly this just got rejected from a minor resistance and the 50 day MA which now will be taken out pretty soon .
Would love to pick this up around 2921 though 3030 is where i think it will test and bounce .
3123 is where fresh support has been formed so chance of it getting front run. Either ways recommended levels to dollar cost average your buy.
If the Nifty does dip to 10350 zone then 2921 quick touch is possible so thinking of going in big with a stop loss at 2879.85
Is following the predicted path from the earlier graph so feel free to check it out for macro outlook .
Long term bag holders 4923 will be taken out March 2021 is my guess :)
Cheers!
Never Chase trades let them come to you ...
Bajaj Finance OBV ReversalDaily Chart.
Support 3100-2900
Resistance 3440-3650
Stochastic Oscillator (20,5,5) -- Over Bought
RSI (14) -- Over Bought
Again in contact with upper line in Channel
OBV Indications --
1. 19/03 to 29/05
Price fell from 2610 to 1814
Volume Increased continuously
2. 02/06 to 07/07
Price rose sharply from 1851 to 3353
Volume fell.
Therefore OBV Showed reversal around 26th of May. And again OBV showing Reversal aound 7th of July.
Above Indicators points towards short term consolidation or reversal.
Healthy discussion is most Welcome. Thank you.
Bajaj Finance accelerated provisioning for Covid19- BullishBajaj Finance informed on Monday it may consider additional accelerated provisioning for Covid-19 in the first quarter of fiscal year 2021 to further strengthen its balance sheet.
BajFin were moving between 200EMA (Resistance) and 100EMA (Support) and also following the levels on Fib ret.
Today stock made High above 200EMA but closed below.Today volume was 11.438M < 12.929M (20MA Volume).
Stock is outperforming Benchmark and Sectrol both index in 1 month and 3 month time period.
Showing BULLISH in all indicator:
CCI above +100
RSI near to overbought
Stoch in overbought
ROC is Trending UP
DI+ crossed 33 from below
Stock outperforming from Benchmark and Sectoral Index
Increase in Relative Strength - Benchmark/Sectrol Index
Aggressive New Long
White Marubozu
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Support : 3010
Breakdown : 3097
CMP : 3108
Breakout : 3128
Short Target : 3150 and 3200
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(Disclaimer: This is only for educational purpose.)
Bajaj finance rising againBajaj Finance is entering into 5th Elliot Wave. It will help in crossing 200 EMA also.
TARGET 1 : 3150
if sustain above 200 EMA,
TARGET 2 : 3400
STOP LOSS : 2800
