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Bajajfinance

NIFTY FINANCIAL SERVICES DETAILED ANALYSIS. FUTURE TREND!!I have drawn many things in this idea, stay with me till the end, and I will clear you. first, let me talk about the future trend(because based on that and my prediction I have drawn the rest drawings), the future trend is the dark black line(drawn both support and resistance). the trend is based on the markets getting consolidated and its reaction shown by nifty finserv components. now how is that trend came to surety says the pullbacks drawn by arcs circle and arrows. i have drawn many of them, have a good good at those, those are majorly pullbacks and pullouts. its just that the market was very volatile at that time, like FII SELLING, DII BUYING, interest rates, money incoming etc.. so that made to disturb the trend, but we get to know it by the pull back strategy. now if you looked very carefull you could observe that the last arc drawn is in black, because nifty finserv, did not supported my trend, that actually because major FII selling had come on. like in major stocks like hdfc, icici, bajaj finance. banking stocks and bajaj finance(one to give high returns), sum the nifty finserv about 85%. thats a lot, so mostly nifty finserv is very closely related to bank nifty chart. since bank nifty chart has almost reached its top and making new ATH, this says that nifty fin serv, is at a very discounted, and at any time rally could come in. but this rally could be defined when US markets react positive and FII selling starts coming. and which is already started. DISCOUNTED STOCKS are meant by those which has a good possibility to go up. stocks such as hdfc, kotak, bajaj finance are much in discounted. icici bank has given a good rally, and same acts for SBI. the next part is the brush drawing: i feel that market could be volatile for several days/weeks because nifty50 is a bit overvalued so this could afraid the market to go in a buy side. there could be a clash of buying and selling, mostly giving some doji candles. if such happens, then January of next year, could be a great possibility to give a bull rally, in nifty finserv components. although this volatile theory could go wrong if market directly sees an upmove, instead of waiting much. to add on as a final point, markets where volatile at the time from AUG- OCT, after a bull rally came in. such case could be possible but this volatile market could be a small one, since many things have been formulated, and bad things(like global conditions, no need to mention it) are coming to an end. the price action and following trends is the best thing. mark some good levels in your chart, and check the trend, based on that start taking positions.
NSE:CNXFINANCELong
by raghavchoudhary2016
BAJAJ FINANCE DETAILED MACD ANALYSIS!! DISCOUNTED NIFTY 50 STOCKin this idea i will be explaining you the MACD analysis done by me. but firstly let me run you through the chart. THE TREND LINES: RED LINE: its the trend followed from past several years before the 2020 crash. DARK BLACK LINE: it is drawn out from the market getting consolidated and from the bull rally post the corona's crash. its the actually trend which should be followed by the stock at present. this helps to determine how much is the stock discounted by. BLUE LINE: this are the short term resistence followed by the stock. EXPLAINING THE MACD ANALYSIS: THE DARK GREEN sticks represents a bull momentum THE LIGHT GREEN sticks represents the stock correcting, after having several dark green sticks THE DARK RED sticks represents a bear momentum THE LIGHT RED sticks represents the stock having an impulse move after the correction, and coming back to its original trend. MACD ANALYSIS DONE IN DETAIL: i have wrote down some numbers on MACD explaining my analysis(be with me till the end). based on the numbers i will be writing the points: NUMBER 1 REPRESENTS: the macd being always been in the green stick(light and dark), representing having a bull rally and a correction after it, but staying within the trend. NUMBER 2&3 REPRESENTS: the 3 dark red sticks, showing the 2020 crash. now, since it has to be valued right, the minor red sticks showed an upward momentum to bring the stock again in its original trend. NUMBER 4&5&6 REPRESENTS: the bull rally post the crash, and the correction followed by it. NUMBER 6 is also a major correction because of MAJOR FII STAKES SELLING. NUMBER 7 REPRESENTS: a small momentum gained by stock after NIFTY 50 finished correcting, and had a bull rally(dated- 20th of June). and even including the stock split news. but this smal momentum had broken the blue trend line, showing a breakout, and a bullish sign. but from past 3-4 months the stock is following lower highs pattern, and it has sent to its previous red line trend. some possible reasons could be said, one of such could be current market conditions. THE CIRCLED PART(in macd): but finally a red stick shown, had made me to think that instead of breaking the lower highs pattern, the stock is falling majorly, and reaching its greatest support of trend line(6560). (average macd been followed by the stock was 90, and post corona it should be around 110.) RSI: the overall rsi indicator is slowly falling, showing that stock may not be moving as it was moving much before. but this can only be conformed seeing the sector growth. WHAT AM I DOING: i will wait till the stock reaches bottom, and then start keeping a keen eye on its price movements, if its starts going up, i will make 3 positions 6560, 7300 and 8150(based on the patterns and trends). if falls, then cant tell, but one could then tell the stock is much undervalued. but this will pretty much not happen because NIFTY FIN SERV index, to needs to go up for a long. and same is for this stock. THANK YOU FOR STAYING TILL LAST. I HOPE YOU LIKED MY ANALYSIS:)
NSE:BAJFINANCELong
by raghavchoudhary2016
BAJAJ FINANCE TRADE UPDATENSE:BAJFINANCE is consolidating in a rising wedge pattern after giving a breakout from flag pattern. Price may potentially breakdown from this pattern and retrace as it has already given excellent momentum in the last week. Be sure to add quantity after the momentum of breakdown fades away. On the contrary, price can take big support from the bottom and breakout from this pattern - another opportunity to add more. Regardless of your holding in this stock, you can short the futures market if a breakdown follows and then add more quantity in cash market. Position size accordingly. HAPPY TRADING!
NSE:BAJFINANCE
by PriceActionSpotter