BAJAJFINSV trade ideas
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.
5 waves completed or will complete in coming days reversal may ?Market Commentary:
If the trend is upside or in downside i will inform in the chart and there will be a PB can occur and some correction may start so MIND that DONT TRADE THE CORRECTION and what i am expecting the CORRECTION....Wait for the PB ends...and give entry in the trend side...If u r doing the PB and correction u will took loss ....trade only in trend side....
READ THE MARKET COMMENTARY IN THE CHART CAREFULLY...AND TRY TO LEARN THE ELLIOT WAVES...OTHERWISE ITS TOUGH TO UNDERSTAND MY ANALYSIS
YOU CAN COMMENT ONLY FOR DOUBTS IN LEARNING EW AND NOT FOR ENTER OR EXIT IN THE TRADE OR ASKING ME OR SUGGESTING ON WHAT U TAKEN, ACCORDING TO YOUR ANALYSIS.
All information given inside the chart and i shared this for educational purpose only. Maximum i wont give the followup or update in the old chart posted as educational trade idea, sometimes i will...so please make sure if i posted the new chart for the same pair, it could be a possible wave count changed or updated. Make sure that old one was invalid or possible or alternate wave and the new one is valid. Good luck and cheers.
This is a educational post only...my ambition is to create a awareness to the traders who lose the money and treating like a gambling...this is a pure business and not only buy and sell apart from that we have to fine tune ourselves in various part of trading...cheers once again.