A bounce in BAJAJ FINANCE and then a 12 percent FALL??
Bajaj Finance Ltd. completed a 5 wave up move in Oct. 2023( beginning in March 2023).
From the very top of the 5 wave advance the stock seems to have fallen down in a 5 wave. This 5 wave to the downside should be considered as just the wave "A" of the correction that has begun in the stock.
Wave B in the stock should now unfold in the stock to the upside(with upside limited to 50%-61.8% of wave 'A').
The 50% retracement of wave 'A' which comes in at 7750 should be considered as a major resistance and a probable area where wave 'B' could stop(61.8% retracement otherwise).
Wave 4 low for the stock was at 6800 and that could be the target zone till where the wave 'C' could extend once it begins.
Note*- This is not a buy/sell recommendation. This post is for educational purpose only.
From the very top of the 5 wave advance the stock seems to have fallen down in a 5 wave. This 5 wave to the downside should be considered as just the wave "A" of the correction that has begun in the stock.
Wave B in the stock should now unfold in the stock to the upside(with upside limited to 50%-61.8% of wave 'A').
The 50% retracement of wave 'A' which comes in at 7750 should be considered as a major resistance and a probable area where wave 'B' could stop(61.8% retracement otherwise).
Wave 4 low for the stock was at 6800 and that could be the target zone till where the wave 'C' could extend once it begins.
Note*- This is not a buy/sell recommendation. This post is for educational purpose only.
أغلقت الصفقة: تم الوصول للهدف
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.