Has the NBFC giant bottomed out?Bajaj finance looking strong for the next move up. If it comes out of the marked consolidation, it will move like crazy!
Watch out!
BAJFINANCE trade ideas
BAJAJFINANCE BuyGave a clean breakout of a price range into new price territory..So we buy..It looks like a cup and handle pattern...So buy..But keep stoploss incase breakout fails
Bullish signals in Bajaj finance Bajaj finance make hammer at bottom or near its trend line and after that strong bullish candle close which gives bullish signals in weekly chart
Buy it at 6806 (if it close above it )
Target 7055 7215 7504 8024
Sl 6280
Tym 5-6 weeks
Bajaj Finance Ltd. (NSE: BAJFINANCE) - Short Bias H&SReview:
• Head and Shoulders Pattern: A bearish reversal pattern is present, suggesting a potential downside. The target for this pattern is in the range of 6115 - 6042.
• 21 EMA: The 21-day Exponential Moving Average (EMA) is rounding off, which could indicate a loss of momentum for the bears. A flattening EMA might suggest the downtrend is losing steam, potentially leading to a price consolidation or even a reversal. This adds some caution to the short bias.
• Resistance Levels: The stock is facing resistance at 6484.12, followed by 6608.2, 6702.1, and 6826.2.
• Support Levels: If the price breaks below resistance, potential support lies at 6390.2, 6266.1, and 6172.2.
• Technical Indicators:
o RSI (45.4): Neither overbought nor oversold, but a downward trend could be forming.
o MACD (-106.3, -123.3, Negative): Indicates bearish momentum.
o MFI (43.1): Similar to RSI, not at extremes but potentially trending down.
o ADX (35): Shows a strong trend, but direction unclear without confirmation from other indicators.
o ATR (150.6): High Average True Range suggests volatility.
o Other Oscillators (CCI, ROC, Williams %R): All point towards bearish momentum.
• Recent Price Action: A bullish engulfing pattern on the 1-day chart might be a temporary reprieve. However, it's overshadowed by the preceding Three Outside Down pattern (bearish reversal) 6 days ago on March 6th, 2024.
Overall Bias: Short with caution due to the Head and Shoulders pattern, bearish technical indicators, and recent Three Outside Down pattern.
Important Notes:
• This analysis is for informational purposes only and should not be considered financial advice.
• Market conditions can change rapidly. Always do your own research before making any trading decisions.
• Consider factors not mentioned here, like company news, sector trends, and overall market sentiment.
Bajaj finance swing short Based on my technical analysis the formation of head and shoulder can be seen on daily and weekly time frame.
Rushing towards TargetBajaj Finance
Rushing towards Target
Do not forget to check buying channel it may hit earlier then expected.
Bajaj Finance - heading for 5500 levels?Bajaj Finance could easily be heading for 5500 levels at least, if not lower...
BAJFINANCE--Head & Shoulders ??Head and Shoulders pattern is observed in this stock...
recently price broken the neckline...
Demand Zone is observed at 6000 levels...
if neckline acts as resistance chances of fall back is more.
this stock price is now in consolidation a retest to the neckline may be observed before pushing it downwards again...
find short opportunities in this stock.
If no fallback a strong reversal is observed.
Bajaj Finance at Very Long Term SupportThe market leader has corrected to fall at long term trendline support.
Keep this in the list to be studied.
Note: This, like all other posts, is not a buy/sell call. It aims at spreading awareness and anybody making a financial commitment has himself/herself to credit for gains and blame for losses involved.
#BajajFinance #BAJFINANCE #NSE #nseindia # bseindia
Dear MuthuI used weekly Scale for this TA ...........
=> Target of Head & Shoulder pattern is near 6000/-
=> Must Start Accumulation below 6000/-
=>Bullish Divergence
=> If there is a Bullish Divergence in Price and RSI as earlier (i.e. 19May202 - 13June2022 and
23Jan2023 - 27March2023). Then one must Buy it after Bullish Divergence Confirmation.
=> This scenario may happen between May-July2024
Bajaj FinBajaj Fin can be at the last leg of correction . EW analysis is shown with counts on the chart for learning purpose.
Bajaj Finserv Head and Shoulder PatternIn Daily Chart, it has formed Head and Shoulder Pattern, having head of 1200 points and as the same 1200 points downward target can be expected...
Breakout already happened and running the expected direction...
Bajaj Finance Flat CorrectionBajaj 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
Bajaj Finance weekly forcastBajaj Finance may see an upward breakout next week. Because on the daily chart Bajaj Finance is in a downtrend inside a channel. The stock is continuously setting new lows but the previous two lows appear to be parallel. Which could be the initial sign of change in the pattern of downtrend.
Should we buy Bajaj Finance now?
Bajaj Finance goes down almost every year in February . This year is no exception, but it seems that it has reached it its current swing low. Should we but it now or wait for more downside in coming days?
INR 7000 support in BAJFIN could be taken out!The stock is currently falling in Wave "B" and is expected to complete the wave close to the INR 6600 mark.
A small bump up from current level is possible towards INR7250 but INR 7400 will continue to be a major resistance for the stock.
Upon the completion of the bump-up the fall should again resume and the price should proceed towards the projected target zone.
Bajaj Finance Weekly Chartshowing multiple times hurdle @ 8050
expecting above closed resistance level will give good bounce
Bajaj Finance Bearish ( Head and Shoulder)The stock is currently falling in and is expected to complete the wave close to the INR 6848 mark.
Upon the completion of the bump-up the fall should again resume and the price should proceed towards the projected target zone.
Baja finance swing trade Weekly time frame head and shoulder formation. Bajajfinance missed their q3 profit
Bajaj Finance - Next move?Bajaj Finance is a company of the prestigious Bajaj group and it currently trading at a PE value of 33.7 which is way below its Median PE of 46.9. It has a good profit growth of 35.8% CAGR over the last 5 years and it has increased its profits by approximately 11 times in the last 7 years. The stock should be held till around next March for good returns.
This analysis is just for educational purpose.
Please do your own retrospective study before investing.
Bajaj finance trendingAs per my view n study bajajfinance may go up to 8250 n 9200 Stop-loss is 7200/7000, after hitting high of previous high of 8000 it come down till 7000 mark but not closed below of previous low of 6800 n now trading at 7700 level, follow the levels.
My views r only for educational information n knowledge purposes not to trade, make ur own analysis n invest.
