Bajaj finance analysis for short term trading.

Bajaj finance,the nbfc stock,the dream stock for an investor produced a return of 890% in the last 5 years (before this correction).

It was a dream rally for this stock.But this stock was one of the most affected stocks in this COVID fear.

There a few fundamental reasons for this,which I will not be covering here.
Here,I am trying to show the important zones to trade Bajaj finance using technical analysis.

The 2000 zone was broken and stock gave a strong pull back 2500 zones.This stock if resumes the downtrend can get target at 1600 levels

Now even the pullback trend line is broken which again confirms the down move.

Smart traders would have sold here.The best thing to do is buy an option 1800pe,1900,or 2000pe strikes,it can turn jackpot if things go smooth.

Best strategy would be to hold the option rather then entering in futures with fixed stop,we can definitely do that in important zones,but options can give jackpot with fixed risk.

I would buy 1900 pe at 56.9

Or 2000 pe at 78.35 and hold for targets.

We have enough potential for good profit.

Let’s see how the trade goes.

Please do your own research before putting in your money.