Bajaj Finance forming Weekly Hammer and to start 5th Wave
Bajaj Finance in wave 4 made double zig zag(wxy) and took support in zones 0.5 and 0.618 fibonacci level wave 2-3.
On weekly chart hammer is geeting formed which is trend reversal sign still one day left to complete week.
3rd Wave didn't went above 1.618 so its not extended so as one (sometimes two) of the wave five waves gets extended.
5th Wave least target new high which is equal to Wave 1 6400 or bit more 0.618 fibonacci extension of wave1-3 viz 6900.
Most like 5th would get extended till 100% or more of wave 1-3 length target comes around 8400.
STOP LOSS Should be 4000 which below 0.618 fibonacci level or in case it forms tripple zig zag and comes down again to test 0.618 fibonacci then Top of Wave 1 which is 3749
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis
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On weekly chart hammer is geeting formed which is trend reversal sign still one day left to complete week.
3rd Wave didn't went above 1.618 so its not extended so as one (sometimes two) of the wave five waves gets extended.
5th Wave least target new high which is equal to Wave 1 6400 or bit more 0.618 fibonacci extension of wave1-3 viz 6900.
Most like 5th would get extended till 100% or more of wave 1-3 length target comes around 8400.
STOP LOSS Should be 4000 which below 0.618 fibonacci level or in case it forms tripple zig zag and comes down again to test 0.618 fibonacci then Top of Wave 1 which is 3749
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis
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