Consolidation is getting over
Bajaj Finserv - CMP 1640 Investors
First the chart on right - the stock halted at the 1.618 fib extension and is still respecting the zones. Trendlines act as a timing tool only when the two points taken to draw them are correct. I see the stock reversing before even touching it. This is very bullish. A stock then reverses before its strong resistance is bearish and the stock reversing before its strong support is very bullish.
Second the chart on left- the stock has been consolidating above the 38.2% of its immediate swing indicating strength. With the trendline coming into play on the monthly charts .in my view the time is ripe to enter this stock.
First the chart on right - the stock halted at the 1.618 fib extension and is still respecting the zones. Trendlines act as a timing tool only when the two points taken to draw them are correct. I see the stock reversing before even touching it. This is very bullish. A stock then reverses before its strong resistance is bearish and the stock reversing before its strong support is very bullish.
Second the chart on left- the stock has been consolidating above the 38.2% of its immediate swing indicating strength. With the trendline coming into play on the monthly charts .in my view the time is ripe to enter this stock.
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