Charts of the Day: Nifty BankNifty and other Stocks AnalysisCharts of the Day: Analysis of Nifty and BankNifty and other stocks like #Reliance, #Escorts, #CumminsInd, #IRCTC, #Coforge, #HDFCLIFE, #MUTHOOTFIN and Bajaj_Auto.
Disclaimer :
Trading is never ever recommended as it is injurious to mankind. This is purely my study based on technical charts and for educational purpose only. Please do your analysis before taking any trades given by me. I MUST not be held responsible for any profit or loss out of any trades you take on our advice. All Disclaimers Apply.
BAJAJ_AUTO trade ideas
Bajaj Auto at SupportBajaj Auto, the trend is good on the monthly timeframe and its weekly price action is suggesting that it trying to form a short-term bottom.
And there is a support zone 3790-3743 that confirms the said price action, now if this support zone holds price might move towards the upper range.
BAJAJ-AUTO future outlookOn friday 30th July after 2months of correction off its high Bajaj-auto took support near a major trendline that started around december 2020 and levels of 3750 that have been crucial year long whether as support or resistance. Taking off todays high can take it back to the top of the triangle pattern!
Long Bajaj-auto above 3860 with SL around 3750 for targets of 4200-4250 (risk reward of 1:3.5).