BAJAJFINSV trade ideas
BAJAJFINSV LevelsDaily/weekly
>>1/12
- Flag and poll on daily,
- Saw a good rally from 5-20 nov on upside.
- going sideways/consolidating after the rally
- watch for high lows form up and down side target.
Intraday
>>1/12
- good up move from 6 jan to 8 jan
- 8948 50% Retracement form 6-8 jan rally.
- 9024 38.2 % Retracement - acting as a resistance.
- 8768.5 is 78.6% Retracement form 6-8 Jan up move can act as a target on downside.
- Good Support around 8973.50
- Saw a breakdown in last 1 hr of trading session on 1/12. Expecting the Support Zone break and 8770.70 as 1st short target.
Bajajfin { Short 15 m } IB in formation , It has already broke IB in W frame . Now we're just waiting for confirmation in 15 m tf for a intraday trade . Rest is as per chart
Note :-
Entry - At the break of mentioned candle's low/high
Stop Loss -
In a Short Trade, I always use Previous Candle High ( PCH ) as a stop loss while entering the trade. Sometime I might use 15 M tf SL & trade in 30M tf which I'll mention. Vice Versa for long trades
Trailing Stop Loss ( TSL ) - Mostly I trail stop loss by PCH as price falls . I exit as PCH breaks & vice versa
Use of PSAR as TSL :- TSL get's hit in trend following due to noise, In such cases I use PSAR to be in trend & exit if PSAR direction change
You can use any one of above mentioned or your own way to manage risk
Time Frame :- I take ~ 90% of my intraday trades in 15m tf. Where my analysis might come from higher frames like W , D or 1hr chart pattern which will be mentioned.
Target :- I do set target line based on support / resistance slightly above/ below it . Please pay attention to it