BAJFINANCE trade ideas
Support & ResistanceHey Guys, Please Support - Hit Like.
Financial sector will be weaker in near term, Although if you remain stock specific you can gain some short term benefit.
Here is an example of Bajaj Finance Ltd. One of the leading NBFCs. Price has break upper band of the Wedge pattern and RSI + MACD is giving Bullish indications.
When ever The price has come to the Demand zone it has shown Bullish reversal. I have Analyse Short term Up and Down Side. With RSI showing strength near term looks bullish and Targets can be achievable. But should exit before price reaches to the ultimate strong resistance from the past. There is not much to loose for an investor although price moves a little down because demand zone has prove that there will be a reversal at the level shown on the chart. Low Risk High return.
Thanks.
Buy The Dip Mode again ....
First target 3030 may pull back to 2414 if you fancy your luck at intra day , however following up to the earlier HTF graph
2793 is probably around where we pull back from our rejection of 3030 .
From there i recon its full power ahead as we smash the 200 day and make for 3460.
on a side note :
good is the enemy of the great ???? what does their motto mean ???
Love that Monthly March Candle ! BTFDEach graph to me is a story with the March candle i could just imagine how many people got screwed over and must be cursing ever having bought into BF .
The question i ask myself is why do people not actively manage their portfolios and use stop losses?
Any ways this just tested 2548 resistance perfectly and now looking to flip it and go for 3030 .
In my opinion this would be a good spot to load up for the long term although i stay away from long term commitments :)
The 50 day acted as support and it bounced perfectly now attempting to break the 99 and 200 , i feel 3030 is where we the 99 day comes into play hence first rejection about there ,
Will post a LTF graph so its easier to understand.
BAJAJ FINANCE - SHORT POSITIONThe market will continue in a downtrend, thus short position should be acquired in this scenario.
Support Level 1 (2410-2420)
Support Level 2 (2360-2370)
Final Support (2280-2300)
If the first target is met, i.e. 2360, then place a trailing stop loss and aim for the next target (2290).
Thanks
P
BAJAJ FINANCETHE STOCK SEEMS TO BE IN UPTREND FOR SHORT TERM , THE RESISTANCE NOW IS AT 2554 , IF CROSSED 2554 AND SUSTAINS WE CAN SEE THE RETEST OF VPOC AROUND 2714 LEVELS , ON SHORT SIDE IF PRICE SLIDES BELOW 2310 LEVELS WE CAN BUY ON RETEST ON SHORT SIDE WITH TARGET OF 2245 , OVERALL NIFTY SEEMS TO BE IN SHORT TERM UPTREND EVEN GLOBAL CLUES ARE POSITIVE HENCE TO GO WITH TREND ON CAN SEE HOW THE PRICE REACTS TO 2554 LEVELS IF SUSTAINS 2714 LEVELS WOULD BE AN EASY TARGET , WE CAN WAIT TO BUY AT RETEST OF AROUND 2554 LEVELS WE SHOULD NOT BUY AS SOON AS PRICE CROSS 2554 BECAUSE ITS A MAJOR RESISTANCE AS PER PREVIOUS HIGH THERE WOULD BE A SELLING OR BOOKING OF PROFIT AS STOCK HAS GIVEN GOOD RUN IN PREVIOUS DAYS . ITS A BUY ONLY ABOVE 2554 LEVELS , SELL ONLY BELOW 2310 .
VIEWS AND SUGGESTIONS INVITED
THANKS
Bajaj Finance giving confirmation for buyFrom the 15 minute chart of Bajaj finance, we can see RSI is giving positive divergence, and it has confirmed the buying. Second, Trend line for buying is also breaking, which can be confirmed from next candle. Third, the 5 moving average is also crossing the 10 moving average, which also shows indication to buy. Fourth, Hieken Ashi charts has also showed buying.
I have marked the stop loss on the chart, and first target. After confirming you may buy the stock with your own study.