Bajaj Consumer Care Ltd. engages in the manufacture and marketing of hair oil and hair care. Its brands include Bajaj Almond Drops, Bajaj Brahmi Amla, Bajaj Coco Jasmine, and Bajaj Kailash Parbat. The company was founded in 1953 and is headquartered in Mumbai, India.
The stock has broken down and took support at the support zone near 280. Trade is supported by brokerage calls and Supports Nearby.
The support zone is the point of entry.
Risk Reward Ratio - 1:1.
SL is placed below multiple major support zones and 200 EMA. Target is placed near the all-time high and is supported fundamentally.
Note: Earnings will be disclosed...
After a brief consolidation a high lower is formed on the daily chart of bajaj consumer, a textbook example of a shooting star near the 50 EMA , it should most likely be a bull run for the stock as it already has really great financials, use stop loss under the low of the shooting star and take the pervious high as the target
Bajaj Consumers, Daily Time Frame,
Given Trendline Bullish Breakout
It's like ascending triangle pattern,
Along with Bullish UNGALI SETUP,
Weekly and Daily both MACD are positive and Aligned with Oscillators too.
All EMAs are Positive as per Requirement for Bullish Bias, One can go Long with Stop-loss of 268.
All key levels are mentioned in chart with...
Price has been consolidating in a narrow range for over 4 weeks. Stock can be considered in a pullback phase as suggested by the low volumes and holding of the previous breakout area. Company has been reported fantastic quarterly earnings which has been well received by the market participants. Outside the consolidation area, stock can see 310/350 in short term....
The above analysis is done purely based on price action and chart patterns.
The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets. Traders can take advantage of this analysis in intraday trades as well.
In technical analysis, we say that a level/zone which first acts as a resistance for price, becomes support...