this one of the price action patterns widely seen.it has
formed good structure but not good price volume expansion.
weekly bullish engulfing is formed.enter this stock only after
bullish confirmation above 3947.75 level
weekly breakout of inverse head and shoulder
highest weekly close since 3feb 2020
trading at all time high showing good strength
also on right shoulder forming rectangle i.e. pattern forming inside pattern thus strong breakout indicator
height of head which 2385
therfore 3818+2385 = 6203
Bajaj Holdings - Another Holding company looking extremely strong to break out from CupnH. Can reach 4K SL for this pattern is daily close below 3450...!.
DISC: Not a SEBI Registered. I post charts for my own study.
Stock Analysis: Bajaj hold and investment has broken the sym triangle it is good buy around immediate demand zone with next demand zone as stop loss level and target are given on the chart. Let's see.
This analysis is purely based on price action and chart pattern.
Analysis is done on daily TF hence it may take several days to couple of weeks to reach its target. Traders can also take advantage of this analysis in intraday trades.
Analysis & Strategy along with logic is explained in image itself. Entry can be taken at CMP to 3060 range.
Always plan your trade...
Bajaj Holdings & Investment Ltd. is a non-banking financial company. It engages in the investment in assets and properties. The company was founded on November 29, 1945 and is headquartered in Pune, India.