BAJAJ AUTO AT TREND LINE RESISTANCE AND AT FIBB 0.786 LEVEL Price touched its trend line resistance also there is 0.786 fibb level so its very good setup to go short. entry.stop loss and target given on chart .
TRADE WITH CARE
REGARDS
KING999
BAJAJ_AUTO trade ideas
BAJAJ AUTO - BEARISH CRAB PATTERN Points Noted in the Chart,
1. Elliot Wave 5 Impulse leg completions
2. Bearish Crab Pattern Completion
3. RSI in Overbought zone
I would wait for the next bearish candlestick for the confirmation.
After Confirmation,
T1: 2342
SL: 2610
BAJAJ AUTO - THE BIG SHORTIn my opinion it is the most prominent sell for this year.
Point noted on Daily Chart,
1. Prices reached at previous resistance, (looking for selling tomorrow)
2. Bearish RSI Divergence
3. Triangle Breakout pattern on weekly and Daily Chart
4. Structure trading - Lower High and Lows
Right now, it is at the lowest risk to enter this one.
Cheers
BAJAJ AUTO BREAKS FAIL I personally feel that it is a Great opportunity to short this one at current levels.
On my personal view, I believe it has broke out from a consolidated triangle pattern and has also changed the trend by making lower highs. This seems as a trend change for this one.
1. RSI Divergence
2. Triangle breakout pattern
3. Structure confirmation of lower highs
On my personal view, I feel it is a big time short.
Bajaj Auto in Down Trend Currently, symmetrical triangle breakout move confirms the down trend as it has also made Lower Highs and Lower Lows (marked in red), which denotes change in trend.
MACD is also turns in negative as well as AO. - confirms downtrend too.
Therefore, due to above confirmation, I would recommend to short this one for the initial target for 2264 SL2450 and duration is 3-5 days.
