Market bottomed out at 415, price retested that area again however buyers were keen to step in from 423. From a multi month pivot perspective from 8/Mar onwards there was a range extension to the upside. It is shown as a rectangle in the chart. Market rallied up and broke the LH/LL sequence in weekly.
Market tried to retest 498 from the recent highs however...
BAJAJ Electricals, is under going good process of Wyckoff's accumulation & re-accumulation phase.
1) The stock trapped sellers on a down move, and regained from the bottom
2) When it was falling, an immediate support from the buyers, known as stopping volume (A Volume which stops the bear trend) came under play. You can clearly see that it helped BAJAJ...
Bajaj Electricals ABCD Pattern: PRZ Noted @ "D" Level. As of Now bullish till 310/320 (CMP 265). Near 310/320 one can exit the stock/ Take fresh Shorts.
