This is related to the banknifty one (see below)
BAJFINANCE has run up beautifully inline with banknifty but at accelerated pace.
It is sitting nicely at 50% retracement and the fatigue is visible on chart.
It has made an engulfing candle today and considering the confirmed bearish bias on banknifty, this would follow.
First target is the 38.2% retracement sitting at 3000.
If the momentum is strong enough, the next target would be around 2800 followed by 2400 where we had gaps in recent past.
BAJFINANCE has run up beautifully inline with banknifty but at accelerated pace.
It is sitting nicely at 50% retracement and the fatigue is visible on chart.
It has made an engulfing candle today and considering the confirmed bearish bias on banknifty, this would follow.
First target is the 38.2% retracement sitting at 3000.
If the momentum is strong enough, the next target would be around 2800 followed by 2400 where we had gaps in recent past.
