BAJAJFINSERVNSE:BAJAJFINSV
BAJAJ FINSEREV IN CONSOLDIATION OUT SIDE THE BOX CAN GIVE GOOD MOVE
BUY RIFGHT SIT TIGHT
VIEWS INVITED
BAJAJFINSV trade ideas
bajajfinsv TA shortFundamentals---
Bajaj Finserv, on July 21, reported a nearly 44 percent year-on-year (YoY) jump in Q1 FY21 consolidated net profit at Rs 1,215 crore. On a quarter-on-quarter (QoQ) basis, profit jumped over six times.
Consolidated total income for the quarter under review stood at Rs 14,192 crore, up 16 percent YoY. On a QoQ basis, income was down 7 percent.
However, the company's arm Bajaj Finance's consolidated profit after tax dropped 19 percent YoY to Rs 962 crore. Total income for Q1 FY21 increased 14 percent to Rs 6,650 crore
Bajaj Finserv from 17 July 2020The stock is showing bullish sign in 4h Timeframe ... positional long can be taken.
There is consolidation zone present right above the 6403 level ..which might result in some high wick candles
MFI is showing sign of increasing .. though RSI and MACD in -ve zone --> consolidation zone very problematical
Targets --> 6664 -> 6905 (tough)
Trade setup :
Safe Setup : ( Sell 5700 PE + Sell 5600 PE ) + ( BUY 4800 PE * 2 ) to decrease margin total profit : 10K margin 160K
Nerves of Steel Setup :
1. Sell 5700 PE + Sell 5600 PE
2. Buy 6300 CE
use appropriate hedging to decrease margin
:: assumption taking 4800 PE *2 and 7200 CE total profit : 90K margin: 180K very risky : 48% success probability
Give me Green my Lord !Well a lord will help when you set your theory practice right. In the above analysis the pink box was support cum resistance which seems to have become a weak resistance point and can be a point of breakout spurt. Do check the volume for confirmation with price action
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BAJAJFINSERV-Zigzag pattern hidden waiting for b) to complete...Market Commentary:
First have an look for the positional trend i shared here previous....if you are a follower of me...and sometimes i will share the counter trend trade also in 15 mins and 1hr...but that is risky ones...so if the trend is bearish or bullish, if i am expecting the correction...book the profit there and wait the correction to end and again go with the trend....DONT TRADE THE COUNTER TRADE SETUP...you will took loss too...try to identify the sort term pull back and the long term pull back after that took small lots in the short term PB with strict stop and go with big lots in the trend side that is long term. I WONT TOOK ALL THE TRADE PLAN SHARED HERE...
Read the market commentary inside the chart what i shared here carefully and try to learn Elliott waves...otherwise its tough to understand the market commentary and my analysis. I wont give a entry, stop loss and take profit in my chart...it is only for EDUCATIONAL PURPOSE and i am sharing how i am analyzing the pair and labeling them according to the Elliott wave theory...I AM JUST SHOWING THE TREND HOW IT MAY GO AND MY VIEW(it may wrong too)..so DON'T FOLLOW BLINDLY MY CHART..take this as a reference and if it correlate to you strategy took the trade as per your strategy...DON'T ASK ABOUT YOUR RUNNING TRADES i wont comment on them and I WONT SUGGEST TO TAKE MY TRADE SETUP.
My style of trading is different from others and I WONT PLACE A STOP...but ALL MY TRADES ARE UNDER MONEY MANAGEMENT ACCORDING TO MY ACCOUNT SIZE...i wont close the trades even in the BIG NEWS EVENTS OR SCHEDULED NEWS TOO...i am technical analyst based on trendline, channel, fib retracements, expansion, stochastic for divergence, EMA's and MA's are finding the pull backs and MAJOR IS ELLIOTT WAVES...those mentioned past are using as a TOOLS only. I am not a fundamental, sentimental trader...but only the fundamental will boost my technical analysis to reach my target or sometimes it will go against me and then i will manage the trade according to the Elliott waves alternate views...
Each and every trade plan i am sharing here has a alternate view and i am sharing only the most probabilities(70-80%) here...sometimes the other (20-30%) may market do..then i will change the wave counts and labeling according to the price action. All labeling and wave counts done by me by manually and i will keep change according to the LIVE MARKET PRICE ACTION. So dont bias, hope on my trade plans...try to learn and make your own strategy...Following is not that much easy...I AM NOT RESPONSIBLE FOR ANY LOSSES IF U TOOK THE TRADE ACCORDING TO MY TRADE PLANS....THANKS LOT..CHEERS
