On Hrly chart it has started to move up slowly, as per Demand & Supply Zones in conjuction with trendlines & Fiboncci levels we can assume resent target for swing dotted dashed line.
Due to bounce in Downjones today we had jump in Nifty & Banknifty. now as per Horizontal trendline it should test above supply and then should come down.
Banknifty is weak, it has taken pause with a doji candle, Hence downtrend is intact, Still wait for a Confirmation and then Short.
Now it Don't shows any Strong momentum in uptrend, loosing trend and now it should go down, we could expect till dotted line.
It is dropping from Supply zone and now continue to go Down Till Dotted line. Price respect Demand & Supply Zones.
Friday's Movement is just retracement, High chances to go down. Price should respect Demand & supply zones and in sideways to downtrend. Possible target as per dotted line of Fibonacci Extension.
Clearly We can see downtrend in BajajFinance, it should Retrace Till Dotted Green line, that is as earlier 50% retracement, while one can see pause & pullback at Demand & Supply Zones. After retracement it should continue its downtrend.
Demand & Supply Zones Shows movement & pause of Price. Also confirmation with Trend lines. With Fibonacci extension & retracement it shows trend should continue in downtrend for now Target should be 355-360.
As per recent daily candles; it shows both side big wiks and less body candles, there is indecision in short term basis, it seems bears are selling on rise. Hence one has to wait for confirmation to enter the trade for swing & long term.
Daily Time frame : Red Zone is Supply Zone & Green Zone is Demand Zone. Daily Time Frame it is now in PULL BACK MODE. Channel Lines are drawn : Will also act as Support & Resistance. In 60 min (1hour) Right now stock is at Demand Zone and already has reacted to move up, and hasbroke Trend line in 60 min. For Swing First Target could be 2145 & then Extend till...