A Winner run for BAJAJ FINSERV?BAJAJ FINSERV looks promising for an upside gain as it makes new powerful momentum swings. The stock has formed a ascending triangle zone where it tried breaking out near previous resistance zones. After being an underperformer for over an year it would be interesting to see if it can break through previous price points & recover to form new highs.
BAJAJFINSV trade ideas
BAJAJFINSV : Booked profitsI've realized a profit of approximately 26.65%.
While there is a potential for a 17% move to reach the all-time high from the current levels, it's important to note that the downside risk is considerably higher, at over 43%.
From a technical standpoint, the price has consistently faced rejection at the current levels. Given the overall market situation and the stock's valuation, I no longer find it prudent to maintain my position. Therefore, I have decided to secure my profit.
However, I will certainly consider re-entry if the price retraces back to the lower end of the channel line, as indicated in the chart.
BAJAJFINSV ViewsThis script attracted my attention on 21/08/2023 EOD basis.
It seems to be a turnaround from the value area as marked in the chart drawing.
AS it is almost 3% away from the value area, now onwards it will be interesting candidate for the study purpose for the movement towards the immediate target as shown in the chart drawing.
BAJAJFINSV Analysisthe stock is trending upwards from long term...
now price is reached the previous strong support...now acts as a resistance...
yesterday a long rejection is observed from the same zone...
on bottom we have seen, that a bullish gap left below...
is this an exhaustion gap at resistance...price fall is going to happen.
a strong move is observed from 1500 zone...
If the previous resistance gives support it will reach top side...
if the bottom side demand will pushes the price upwards...after reaching the zone look for buy at previous resistance...
If demand gives support,previous resistance acts as resistance again falls.
Bajaj finserv Bajaj finserv forming a triangle pattern I have spotted it bit earlier I don't know whether it will give a breakout or not but following a smart money concept and strategy risky swing traders can start accumulation of Bajaj finserv CMP 1618 looks like a bullish candle on monthly will close 12 day more for a bullish candle closing
Just a view only
Only for educational purposes
Ask your financial advisor before buying
Bajaj Finserve LTDNSE:BAJAJFINSV
Buy : ₹1613
Target : ₹1735
Gain ~ 8%
The stock is showing good signs of upward momentum. The price has come from the lower support of the triangle and now moving towards the upper resistance of the triangle. The rally from here will give around 8% gains.
I'm a chartist, I paint charts.
My charts speaks louder than words.
The ideas represented here are only for educational purposes and not any kind of financial advice to buy or sell. Do your own research before investing.