Bajaj Finserv: Stuck b/w 50 & 200EMA
Knowledge of Trend is important:-
Higher Timeframe (Weekly) Trend - Still Red
Current Timeframe (Daily) Trend - Green
Stock is currently stuck between 50EMA & 200EMA. It still faces some resistance from 200EMA, which is @ 6611 currently (not so far). Once that is breached, the stock should go up faster.
Note: It gave a wonderful 'Fake breakdown reversal' @ 4400.
Entry - once stock crosses 200EMA i.e. 6611 currently
Stop Loss - 6200
Target - Trail with 30EMA or 50EMA
Higher Timeframe (Weekly) Trend - Still Red
Current Timeframe (Daily) Trend - Green
Stock is currently stuck between 50EMA & 200EMA. It still faces some resistance from 200EMA, which is @ 6611 currently (not so far). Once that is breached, the stock should go up faster.
Note: It gave a wonderful 'Fake breakdown reversal' @ 4400.
Entry - once stock crosses 200EMA i.e. 6611 currently
Stop Loss - 6200
Target - Trail with 30EMA or 50EMA
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