BAJAJ_AUTO INTRADAY TRENDAs per the Technical Analysis Chart Pattern, BAJAJ AUTO Intraday view.
The potential bullish trend with the upside of 2975-2995as the target from the breakout of 2960. We can follow the strict Stop Loss of 2940. It is only Buy Above the resistance of level of 2660.
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BAJAJ_AUTO trade ideas
Bajaj Auto (Ready to Breakout or Breakdown ?)Bajaj Auto has formed a triangle just like Heromotoco. However there are a few interesting formation building up in a larger time frame i suggest you have a look at the monthly TF and you will understand why the Red Line. Prices might be driven on sentiments regarding the incoming auto numbers on the 1st of October so any breach might be halted/stopped out in case the numbers support an opposite trend. Otherwise a breach should take the price in the direction of the breach.
Trade with Caution
INTRADAY STOCKS SELECTIONS ( 10/9/2020)
A breakout is a potential trading opportunity that occurs when an asset's price moves above a resistance level or moves below a support level on increasing volume.
The first step in trading breakouts is to identify current price trend patterns along with support and resistance levels in order to plan possible entry and exit points.
Once you've acted on a breakout strategy, know when to cut your losses and re-assess the situation if the breakout sputters.
As with any technical trading strategy, don't let emotions get the better of you. Stick with your plan and know when to get in and get out.