Bajaj Finserv has been forming new lifetime highs since the
past two sessions and has shown an amazing move from the lows of 5860, depicting
an epic move in impulse form. We have been using Elliott wave combined with
different indicators and it’s amazing to see how well they work. We were successfully
able to predict the upmove in the form of wave 5 with the help of Elliott wave
and capture more than 8% up move.
Below is the chart showing detailed analysis published in
our research report -“The Financial
Waves Momentum Update”
Bajaj Finserv
60 mins chart: (Anticipated as on 5thMarch
2019)
Bajaj Finserv 60
mins chart: (Happened as on 2nd April 2019)
(Following research
is taken from Momentum report published on 05th of March 2019)
Momentum stock
recommendation: Bajaj Finserv
Buy Price – Buy above 6630
Time Horizon –Not Applicable
Investment – 5% of capital
Target price – 7200
Stop loss–6280
Partial Profitlevels-6870
*Trail stop to cost after booking
partial profits to ensure capital protection*
Elliott
Wave analysis:
Anticipated as on 5thMarch 2019: As shown on
the daily chart (shown in actual research report), prices completed wave 3 on
the upside near the high of 7200 levels and the ongoing correction was in the
form of wave 4 which was internally in the form of Double correction pattern.
Currently wave 5 is ongoing on the upside and a move towards 7200 can be
expected.
As shown
on hourly chart, prices look to have completed wave (y) which was forming
Diametric pattern on minute and looking at the rise wave 5 looks to have
started on the upside. A move towards 7200 can be expected which is near the
channel resistance. However it is advisable to book partial profits near 6870 and
keep trailing the rest to capitalize the gains.
One can
keep a stop near 6280 levels and a break below this will indicate that the rise
was only in the form of wave x and wave 4 of Primary degree is still ongoing.
In short
trend for Bajaj Finserv looks to be positive and a break above 6630 can be used
as a buying opportunity for a move towards 6870 followed by 7200 levels
maintaining a stop near 6280.
Happened as on 2nd
April 2019: The stock has shown
amazing outperformance amongst its peers in the financial sector. Prices moved in sync with our expectation
and achieved the target of 7200 on 2nd April 2019. The stock has
continued to rise further higher making a lifetime high near 7405 levels.
The above research clearly shows how one can capitalize the
study of Elliott wave and ride the trend. We have been accurate to capture
strong up moves in momentum stocks like Bajaj Finserv, Pidilite, BEML, Kajaria
Ceramics and lot more. All of those showed strong gains in short period of
time. To know more about our next pick and to ride the trend in momentum stocks
you can get access to our report “The
Financial Waves Momentum Update”- Get access here
Also learn the above techniques in my upcoming training -Attend most
advanced technical analysis training – Elliott wave, Neo wave, Hurst’s Time
cycles combined with Ichimoku Cloud to be conducted on 6th – 7th
April 2019. Also get free Elliott wave plotting software for two weeks and get
your counts validated post learning immediately. Only a few seats left. Register here
No comments:
Post a Comment