Monday, January 20, 2014

Bajaj Auto

Bajaj Auto

Bajaj Auto looks forming a falling wedge in daily charts. Stock took support at previous lows and inching up. If stock moves above the wedge trend line then we may see a good pull back till recent high of 2014 levels.
Stock closed above 34 EMA with good volumes making some bullish momentum.
ADX (14d) on daily charts also ready for giving a positive cross.




Below is the Hourly chart. Hourly chart says there is a trend line resistance at 1957 /58 levels.
RSI also showing almost over bought. If stock reversal tomorrow at these levels then one can initiate shorts as well on the stock good down move with SL as decisive close above the trend line resistance..








1 comment:

  1. BAJAJ AUTO CURRENT PRICE IS 1928.05 WITH LOSS OF 5.95 (-0.31%)POINTS. PLEASE TELL ME NEXT PROFIT CALL Stock Commodity Tips

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