BAJAJ_AUTO trade ideas
Bajaj Auto - Breaking out It has been observed that the price action is breaking out from a consolidated triangle pattern, indicating further up movement.
T1- 2550
T2- 2750
SL- 2200
Kindly note once the price action closes above the 2400 levels then the pattern confirms.
Bajaj-auto short on the basis if itchimuku and support zoneIn hourly ichimuku chart, Kijun sen line is around 2325. And that price is acted as support/resistance area multiple times previously. So once it breaks that price and moves below 2300 on hourly basis then I'll short it with SL of 2330 with target of 2225.
BAJAJAUTO DOUBLE BOTTOM BUY OPPORTUNITYBAJAJAUTO HAS FORMED DOUBLE BOTTOM FORMATION ON H-1 CHART.
BUY ENTRY: INR 2160-2180
STOP LOSS: INR 2010
TARGET-1: INR 2410
TARGET-2: INR 2520
Value Investing 6: Bajaj Auto LtdGet value stocks of all sectors - Contact 07066035072 (Whatsapp only)
Sector: Automobile
% Debt of Market capital: 0 (No debt)
PEG: 1.64 (Fast growth)
Beta: 1 (Not Volatile)
Fair value: 2740 (Compare with current price)
Key buying/support level: 2331-1848
Fundamentals: www.fundata.in
BAJAJ AUTO 4RDeep Crab@1.902XA
Red vertical line is where HIGH VOLUME came so its a TRAP by SMART MONEY
Green vertical line here VOLUME LESS THAN FEW BARS
So Professionals are not interested to downside
POTENTIAL BUY
Bajaj Auto - Looks Tired, maybe final distribution happening?Bearish for long-term. Can try positional short below 3150, with SL of 3250.
Long-term target T1 2000 (Best case)- T2 1650- T3 1500 (Worst case)
BAJAJ AUTO IN BEARISH TREND ROTATIONBAJAJ AUTO HAS BEEN ON STRONG BULLISH MOVE FROM 30-JULY-2019 TO 01-NOVEMBER-2019. AFTER THAT STOCK FAILED TO CONTINUE BULLISH RUN AND FORMED DOUBLE TOP FORMATION BEFORE INR 3300 PSYCHOLOGICAL ROUND FIGURE MARK. AS WE KNOW DOUBLE TOP IS BEARISH REVERSAL SIGNAL. MORE OVER INR 3100 LEVEL WHICH HAS BEEN STRONG RESISTANCE MANY TIME IN PAST ON DAILY TIME FRAME, STOCK GOT SUPPORT AT "V" OF DOUBLE TOP RIGHT AT THAT INR 3100 LEVEL. STOCK BROKE THAT SUPPORT LEVEL OF INR 3100 ON 3RD JANUARY, 2020 AND NOW IN PRESENT TRADING AT THAT SAME INR 3100 LEVEL. AS WE ALL KNOW PAST SUPPORT BECOMES FUTURE RESISTANCE LEVEL, WE CAN LOOK TO ENTER SELL BAJAJ AUTO ON TWO WAYS.
1) AGGRESSIVE APPROACH: ENTER ON BREAK AND CLOSE BELOW DAILY CANDLE FROM NOW AND STOP AT 0.618 RETRACEMENT OF RECENT SWING LOW, WITH TARGET AROUND INR 2875 LEVEL WHICH IS ALSO AB=CD PATTERN.
2) CONSERVATIVE APPROACH: WAIT FOR PRISE TO RETRACE UPTO 0.618 OF RECENT SWING (SECOND TOP TO MOST RECENT LOW) AROUND INR 3177 MARK OR WAIT FOR RSI TO GO OVER BOUGHT AND FROM THERE LOOK TO ENTRY REASON ON LOWER TIME FRAME. WITH STOP LOSS AROUND INR 3305 LEVEL WITH TARGET OF INR 2875.
WHICHEVER APPROCH WE SELECT BOTH HAVE MORE THAN 1:2 RISK REWARD RATIO. ALTERNATIVELY TRADER CAN TAKE BOTH POSITIONS, IF AGGRESSIVE ENTRY GETS STOPPED OUT CONSERVATIVE ENTRY TRADE WILL GIVE ENOUGH PROFIT TO COVER THAT LOSS.
Short opportunity in Bajaj AutoStock travelling towards a major support area. Re-tracement sell for a good 50 point move downwards
