singajai

BAJAJ Finance - on Narrow range - showing bearish on Parameter

Short
singajai Updated   
NSE:BAJFINANCE   BAJAJ FINANCE LTD
#BAJAJFINANCE is trending between level 3420 and 3122 (200EMA). Today stock open with Gap Down but due to bearish sentiment in market it trade down and touched the level 3122 (200EMA) and got good support and closed above. Stock is moving in narrow range since 7 days and a gap UP/down opening can show reversal tomorrow 15 July.

Showing Bearish result in Technical Parameter:
CCI is bearish
RSI is treading down
stoch is reversing from overbought zone
PSAR indicating bearish reversal
ATR is decresing since 3 day
High decrese in Future OI
Long Cover
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Support : 3123 and 2983
Breakdown : 3144 (OR Gap down opening)
LTP : 3190
Breakout : 3225 (OR GAP UP opening)
Short Target : 3313 and 3380 and 3420
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Positive & Negative Point:
1) Bullish in Daily/Weekly chart
2) Neutral in Monthly Chart
3) Increase in relative strength - Sectrol
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(Disclaimer: This is only for educational purpose and paper treading.)
Trade closed: target reached:
3123 hit

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