Bajaj Finance Flat Correction
Bajaj FInance is in a long term flat correction which started from late 2021 & it can continue for few more months.
It loks like in Wave C where it can make a 5 wave fall. Minimum target should be 6443 of this pattern but seeing the impulsive wave it shouldn't stop here & we can see straight fall to 5800 levels then later on 5200-5300 levels. This pattern can go in till April May 2024
As per Ichimoku too it has broken weekly cloud & next monthly cloud support appears near 5900 levels
Buying otm puts for march or April is not a bad option right now.. Risk reward is good with small risk & can hedge this trade too if you want
It loks like in Wave C where it can make a 5 wave fall. Minimum target should be 6443 of this pattern but seeing the impulsive wave it shouldn't stop here & we can see straight fall to 5800 levels then later on 5200-5300 levels. This pattern can go in till April May 2024
As per Ichimoku too it has broken weekly cloud & next monthly cloud support appears near 5900 levels
Buying otm puts for march or April is not a bad option right now.. Risk reward is good with small risk & can hedge this trade too if you want
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