Equity Technical Pick
Bajaj Finance
Bajaj Finance
Technical view
Bajaj Finance is forming Inverse Head and Shoulder pattern on daily chart and having breakout point at 1200. Above 1200 rally remain continue. Three consecutive closes + weekly close above 1200 will see sharp upside rally till 1250 and then to 1300 mark in days to come. Support intact at 1170.
On Daily chart, Bharat Finance is trading above 21 and 55 days exponential moving average. Traders don’t go for aggressive or positional selling at all because trend is positive and we will expect rally to remain continue till 1250+ mark in coming days. For positional trade, stop loss seeing at 1170. It will get positional weak only below 1170 mark which is unlikely to breach in near terms.
More will update soon!!
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