Bajaj Healthcare Ltd: #BAJAJHCARE
Above 3-Year Range: The current price action is holding above a multi-year sideways range, signaling a potential transition out of consolidation.
Support Zone: Price is consolidating above a significant support zone (₹480–₹500), a level that has historically shown resistance and limited downside from here.
Momentum: Short-term technical indicators, such as RSI, are showing a recent turn higher from the mid-range, indicating renewed buying momentum and a potential upswing.
Swing Trade Setup
Why the Chart Looks Good for a Swing:
Strong Base at Support: With price respecting major support and avoiding breakdowns, risk is relatively contained for new positions.
Clear Entry-Stop Structure:
Entry: Around the current levels, above ₹480–₹500 support.
Stop-loss: Just below the ₹460 zone, which is well defined by recent market structure.
Upside Potential: Price has room to test higher resistance areas, notably first toward ₹600+ and eventually ₹800 if momentum sustains.
Momentum Shift: Oscillator bounce from oversold/mid-levels supports the case for a swing move up.
Risk Considerations
Resistance Overhead: Price faces nearby resistance at ₹600 and major resistance near ₹800. Watch for momentum to ease if these levels are approached quickly.
Volume Confirmation: A breakout above ₹600 with strong volume would offer the most reliable swing confirmation.
Invalidation: A decisive break below ₹460 on a closing basis would invalidate bullish swing structure and signal caution or exit.
Above 3-Year Range: The current price action is holding above a multi-year sideways range, signaling a potential transition out of consolidation.
Support Zone: Price is consolidating above a significant support zone (₹480–₹500), a level that has historically shown resistance and limited downside from here.
Momentum: Short-term technical indicators, such as RSI, are showing a recent turn higher from the mid-range, indicating renewed buying momentum and a potential upswing.
Swing Trade Setup
Why the Chart Looks Good for a Swing:
Strong Base at Support: With price respecting major support and avoiding breakdowns, risk is relatively contained for new positions.
Clear Entry-Stop Structure:
Entry: Around the current levels, above ₹480–₹500 support.
Stop-loss: Just below the ₹460 zone, which is well defined by recent market structure.
Upside Potential: Price has room to test higher resistance areas, notably first toward ₹600+ and eventually ₹800 if momentum sustains.
Momentum Shift: Oscillator bounce from oversold/mid-levels supports the case for a swing move up.
Risk Considerations
Resistance Overhead: Price faces nearby resistance at ₹600 and major resistance near ₹800. Watch for momentum to ease if these levels are approached quickly.
Volume Confirmation: A breakout above ₹600 with strong volume would offer the most reliable swing confirmation.
Invalidation: A decisive break below ₹460 on a closing basis would invalidate bullish swing structure and signal caution or exit.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.