BAJAJFINSV : Short Term View for Swing / Positional Trade

31 mar

https://www.tradingview.com/chart/g3pvAMci/

BAJAJFINSV : After almost 12% correction, this stock is breaking out at upper side with off-course massive Volume support.
While looking at mathematical price movement predictions, here are the HIGH, MEAN and LOW can be:

HIGH = 2040
MEAN = 1793
LOW = 1295

While looking at chart, it shows the latest Fibonacci retracement of 61.8% tested. While it is still above the psychological mark of 50% retracement, the other confluence factor can support in our bullish view.
If we look at RSI on daily timeframe again, it is touching the level of 60 which is a strong sign of fueling the bull. The current price is above the next psychological level of market which is 20-SMA.
In addition, it is also making Falling Wedge on daily chart which is also a mark of bullish reversal.
It is also a strong candidate of making 52w high and currently lagging with 5.4% from 52W high price.
One can look for an opportunity for a swing or positional trade in it.