Bajaj Finserv has been in a good trend even when overall market remained negative, the stock has been trading around the recent highs.
There has been a Break out of the resistance zone but the market has formed a Tweezer top after the break out on the weekly charts.
If there is trend reversal of the indices, high chance of it forming new high while be there.
YTD the stock has posted 17% positive returns while the markets are down by the approximately the same percentage.
Major Resistance levels :-1860-19410
Possible Target levels (as per fibonacci levels) :- 2304, 2771
This can be the stock of the year. 20-40% return can be captured as per the holding capacity. Keep strict SL
Wait for the price action and trade as per the trading plan/setup.
There has been a Break out of the resistance zone but the market has formed a Tweezer top after the break out on the weekly charts.
If there is trend reversal of the indices, high chance of it forming new high while be there.
YTD the stock has posted 17% positive returns while the markets are down by the approximately the same percentage.
Major Resistance levels :-1860-19410
Possible Target levels (as per fibonacci levels) :- 2304, 2771
This can be the stock of the year. 20-40% return can be captured as per the holding capacity. Keep strict SL
Wait for the price action and trade as per the trading plan/setup.
Trade active
A cup and handle can be formed around the resistance zone.
Or a break out and a retest can be seen in the stock.
or it can consolidate in a range and then go for a break out.
The stock must be enter after the break out of the previous break out level and next entry is above the ATH.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.