Short-term trend for Bajaj Finance Ltd 29.01.2024 - Feb 2024
The short-term trend for Bajaj Finance Ltd. (BAJAJ-FIN) on the TradingView chart appears downward with lower highs and lower lows. Here's a breakdown:
Volume: Relatively low volume, implying the recent downtrend might lack strong conviction.
Price Action:
Broke below the recent swing low around ₹7150, confirming bearish momentum.
Struggling to hold above the ₹7035 support level, suggesting further downside potential.
Therefore:
Short-term traders could potentially look for shorting opportunities near resistance levels like ₹7150 or ₹7200, with stop-losses placed above the recent swing high around ₹7230.
A bounce at the ₹7035 support level could offer entry points for long positions if confirmed by bullish signals like higher volume or reversal candlestick patterns.
Target levels would be 6890 and 6600 if 7035 breakdown happens
Remember: This is just a short-term analysis based on the current chart. Always conduct your own research and consider various factors before making trading decisions.
Volume: Relatively low volume, implying the recent downtrend might lack strong conviction.
Price Action:
Broke below the recent swing low around ₹7150, confirming bearish momentum.
Struggling to hold above the ₹7035 support level, suggesting further downside potential.
Therefore:
Short-term traders could potentially look for shorting opportunities near resistance levels like ₹7150 or ₹7200, with stop-losses placed above the recent swing high around ₹7230.
A bounce at the ₹7035 support level could offer entry points for long positions if confirmed by bullish signals like higher volume or reversal candlestick patterns.
Target levels would be 6890 and 6600 if 7035 breakdown happens
Remember: This is just a short-term analysis based on the current chart. Always conduct your own research and consider various factors before making trading decisions.
Trade aktif:
Made a low of 6805
Trading ditutup: target tercapai