TradingView
Mambotrade
19. Okt. 2022 11:46

A bearish move in Bajaj Finserv (analysis for 20/10/22) Short

NSE:BAJAJFINSV1D
BAJAJ FINSERV LTDNSE

Beschreibung

⋅
Bajaj Finserv has been trading in a range and forming rising wedge pattern on the daily time frame.

The stock has been taking support from 20 DMA and has closed just near the level.

A morning star pattern is there on the daily time frame.

Stock has closed between both the moving averages on the hourly time frame.

An entry can be made in the down side, as rising wedge is a downtrend pattern.

Target :- 1670, 1628
Stop loss :- 20 DMA (daily close above it)

Enter the trade once the stock break downs the pattern. Swing and intraday trades can be initiated, if the daily candle close below the level.

Watch for the quarterly earning of the stock.
Support and ResistanceWedgeMoving AveragesNIFTYBANKNIFTYBAJAJFINSVbajajfinservebajajfinancetechnicalanalysisbajajfinsvtradebajajfinservbajajfinsvshortbajajfinservbuy
Kommentare
Mambotrade
⋅
Target 1 is done in the stock and is heading towards target 2.
It might capture target points in 1-2 trading sessions.
Mambotrade
⋅
The stock has given a bullish candle and the trade is still not activated. Option trades should avoid October expiry and trade in next month expiry, if trade is activated.
Mehr