Bajaj Holding Elliot Wave pattern is completed with last ABC waves too. Now price is aiming to reach Upper Channel and Target is 7862/- By Nov 2023.
Note: It is not at all the buying recommendation and this stock is in my portfolio and there is a high probability that my analysis is biased and could be possible my analysis will go wrong.
OBSERVATIONS :-
1) . As we know Cup with Handle is a Bullish pattern
2) After being in uptrend , stock will some correction near to 50% forming like a cup
3) Then it bounces back to form a cup and then consolidate in range for sometime to form a handle
4) Within the handle it slightly forms a range.
5) You can LONG / BUY the stock if retests , breaks the handle...
OBSERVATIONS :-
1) . As we know Pennant Flag ( Bullish ) is a Continuation pattern
2) First we can see the stock in Uptrend
3) Then it forms symmetric triangle with Flagpole
4) Then there was a breakout outside of the ascending triangle , we have to wait till it retest and then enter
5) You can go LONG / BUY the stock if retests and go further up after...
OBSERVATIONS :-
1) . As we know Inverted Head & Shoulders is a Reversal pattern from Bearish to Bullish
2) We can see the stock is in Downtrend for sometime and slowly losing momentum at the downside
3) Then it forms Left and right shoulders with Head forming with much lower price. Having either Hammer or bearish Marubozu candle is also a confirmation of good...
1) . As we know Triple Top is a Reversal pattern from Bullish to Bearish
2) We can see the stock is in uptrend for sometime and slowly losing momentum
3) Then it forms Three tops with all tops containing Shooting star price rejection candle as well
4) After third top touch if breaks below Neckline resistance , we have to wait till it retest and then enter
5)...
Day chart of Bajaj holding it is fall from last some days now may it take support here because in previous this zone is a resistance if it hold here and then take breakout in down side then expect more fall from here
this stocks breaks its major support zone this stocks make two price action pattern and in both pattern it is showing breakout so now 6290 zone is Resistance and I think this stocks gets weak no upside view
The stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below the support zone & the lower trendline. The target is placed near resistance.
NSE:BAJAJHLDNG
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