Bajaj -Auto Potential Short trade with 10-18 percent return

Bajaj Auto has been in a consistent up move. However the recent price action suggest possible short term exhaustion in the up move. While the long term up trend remain strong, there can be opportunities in the short side as well. Chart suggests the formation of a staggered shooting star formation. The classical shooting star is a three candle stick pattern, but the staggered shooting star pattern could be observed when one finds multiple candles together forming the bullish setup and multiple candles forming the reversal candle and multiple candles confirming the reversal set up.

Refer chart for trade entry conditions and parameters.

Caution

The information provided is for educational purposes and the author does not assume any responsibility on trades taken based on the comment.