Bajaj Auto, the trend is good on the monthly timeframe and its weekly price action is suggesting that it trying to form a short-term bottom.
And there is a support zone 3790-3743 that confirms the said price action, now if this support zone holds price might move towards the upper range.
If u look at the chart of BAJAJAUTO (analysis based intraday only) the BAJAJAUTO Buy at 4100 and Target at 4120
Best Buy at 4090.
Our Best Buy is based on high quality research and when the instrument reaches this level , it’s a jackpot trade.
Best Buy level might be executed or might not be executed.
The chart clearly indicates Bullish Trend you...
SHOWED A GOOD RALLY. NOW FORMED AN INSIDE BAR CANDLE AT RESISTANCE LEVEL.
CHCEK IN 15 MINS TF TO FIND A LEVEL TO INITATE A TRADE.
IF BREAKS THE SUPPORT CAN EXPECT A 1:3 RR ON SHORT SIDE.
*EDUCATIONAL PURPOSE ONLY
Bajaj auto trade was identified when it was trading near 3800 levels, ( please refer to the linked post ). Now the stock has not only hit the target but also trying to surpass it. Booking some Partial profit booking and rest trailing with Sl
The stock saw a good up move of approx 500 points i.e from 3450 levels to 3966 levels.
From the Past 8 Trading sessions stock has been moving in a range of approx 200 points.
Now there are two types of trades, that can take place
Support Trade :
Pros - good risk-reward ratio 😀
Cons - might get stuck in sideways move for a while, i.e it can test your...
Bajaj Auto has reached imp support levels, if held we might see a good bounce in the stock.
Harmonic Support, Price action support, and 200-day moving average support all converge near the 3300 levels.