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BAJAJ HOLDING – STOCK IS LOOKING FOR MOVEMENT – SEE TECHNICAL CHART

BAJAJ HOLDING

As we look into this stock we can see that stock is making its move in a range of 750 to 900 rs. in last 6 months.

as per the chart we can see that price has taken a long term support near to 750 level and able to cross long term resistance level at 850 level recently.

we can even assume it as a big “SYMMETRIC TRIANGLE”  on chart.

with the recent top’s its seems like a double top on chart now, we  can still assume it as a “ASCENDING TRIANGLE” on chart now.

now look at the RSI development, rsi taking support on chart now.

now if price able to cross the high level, then rsi still having scope to move in a overbought zone.

so with overall basic development we can say that if price able to close above 905 level for at-least 1-2 trading session then we can see upper move till 970-1050 with sl or support can be place at 835 level.

 

 

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