Bajaj Holdings & Investments: Rises to touch resistance

BAJAJ HOLDINGS & INV Daily NSE Stock Chart Technical Analysis:

Bajaj Holdings is showing improvement.  Today it ran into a diagonal resistance and also has entered the Ichimoku cloud zone. So, this is a double resistance point for Bajaj Holdings.

If it breaks above the diagonal resistance, it can be traded but the stoploss has to remain tight until it is able to cross the cloud and is above 825.


BAJAJ HOLDINGS & INV Daily NSE Stock Chart Technical Analysis

Bajaj Holdings Reaches Resistance, Short-term Correction is Expected

BAJAJ HOLDINGS Daily NSE Stock Chart Technical Analysis:

Bajaj Holdings dropped today.  It opened at Rs 945 and closed at CMP 932.40.

Market Outlook:

• The price will fall further tomorrow. 
• Support is expected at 909 and then at 880 (if price falls below 909).  It should began rising back after reaching these levels.
• Don't buy or sell yet, lets wait for some signals.

Technical Indicators:

• There is a price channel within which this stock is rising speedily.  The swings are about Rs. 70 up and down within the price channel.
• If the price falls and reaches its support trendline and returns back, its a good time to buy.
• If the price breaks resistance trendline and rises upwards for 2-3 days with good trading interest, that's a buy signal.
• Price is continuously taking support at the short and medium moving averages.
• The last 3 days, candlesticks have stayed within the price range set on 3 Nov - Rs 915 - Rs 949 and turned negative.  This is signaling a fall in price for the time being.  We'll wait for the next swing to enter and exit.

My Strategy for Trading Fast Rising Stocks:

• Stocks like Bajaj Holdings which are rising steadily for a period of time, fall back much more quickly than they rise.  
• Hence, in such stocks, I don't buy and hold.  I usually buy at swing lows and sell at swing highs.  
• This gives me good profit without the risk of suddenly losing money, and keeps my bank account liquid and gives good consistent cash flow.  
• You may have a different strategy and all strategies are good, so if yours works for you, stick to it.  

BAJAJ HOLDINGS Daily NSE Stock Chart Technical Analysis


(Analyzed for Prashant, Rajkot)