BAJAJ AUTO BREAKS FAIL I personally feel that it is a Great opportunity to short this one at current levels.
On my personal view, I believe it has broke out from a consolidated triangle pattern and has also changed the trend by making lower highs. This seems as a trend change for this one.
1. RSI Divergence
2. Triangle breakout pattern
3. Structure confirmation of lower highs
On my personal view, I feel it is a big time short.
BAJAJ_AUTO trade ideas
Bajaj Auto in Down Trend Currently, symmetrical triangle breakout move confirms the down trend as it has also made Lower Highs and Lower Lows (marked in red), which denotes change in trend.
MACD is also turns in negative as well as AO. - confirms downtrend too.
Therefore, due to above confirmation, I would recommend to short this one for the initial target for 2264 SL2450 and duration is 3-5 days.