Bajaj Finance: How to predict wave iii before its takes place?

Bajaj Finance: Post giving a break above important resistance of 1970 levels, prices moved higher quickly. It made the high near 2170 gaining 100 points within 2 days whereas Nifty 50 lost 180 points. This clearly suggest outperformance. Below is the research that shows combination of Elliott wave and basic technical analysis to forecast the trend of Bajaj Finance. It is amazing to see at times that these methods have continued to work so precisely irrespective of the movement in broader markets.

Bajaj Finance 60 mins Chart: (Anticipated on 19^th of April, 2018)

Bajaj Finance 60 mins Chart: :( Happened on 19^th of April, 2018)

 

Following is a gist of the research published on 19^th April 2018

     

Elliott Wave analysis:

Anticipated: “Bajaj Finance has continued to outperform when Nifty witnessed selling. There is no looking back for the stock. During the correction in broader market, Bajaj Finance too moved lower but it managed to protect the important support levels and as of now it has resumed the up move. As shown on hourly chart, prices witnessed a sharp up move breaking the downward sloping red channel. As of now wave (i) of 5 of Impulsive Pattern seems to be completed near 1965 levels and wave (ii) seems to be ongoing. Any move above 1965 is expected to take prices towards 2100 levels.

In short, trend for Bajaj Finance is positive. Move above 1965 can give a positive breakout for a trend towards 2100 levels.”

Happened: “On 18^th May 2018 Bajaj Finance made an intraday high of 2171 and also managed to give a decent closing at 2149 even when the overall market was under selling pressure.” This simply shows how powerful Elliott wave theory works.”

This clearly shows how well the technical analysis works when we combine basic with advance techniques. To known what will be the next move of Bajaj Finance and other Nifty 50 index stock subscribe to our Equity Research report under the name of “TheFinancial Waves STU”.