Bajaj Finance on point with Neo wave and Ichimoku cloud
Jan 28, 2025
Neo wave is advanced version of Elliott wave which acts as a GPS to market. If one combines it with simple price indicators along with price action then it can result into powerful trade setups with higher accuracy!
We published the following research on Bajaj Finance on 27th January 2025 in the “Vayu Momentum Report” which our subscribers receive pre-market every day.
Bajaj Finance Daily Chart Anticipated as on 27th January 2025
Wave analysis Anticipated as on 27th January 2025
Despite major indices falling, Bajaj Finance have managed to sustain at higher levels. It is currently approaching previous swing high of 7599. A decisive break above it is must for bullish momentum to continue. Stock recently faced support of the Ichimoku cloud and sharp bounce on the upside was seen. For now, break above 7600 will open upside doors for the stock with the targets of 7850 or higher anticipating significant opportunities in this sector ahead of Budget 2025.
As per wave perspective, wave (E) got completed on the downside and next leg is unfolding on the upside which is further subdividing. The fresh leg looks to be unfolding on the upside in form of a Diametric pattern. Wherein, wave e is unfolding on the upside.
In nutshell, Bajaj Finance is bullish. A break above 7530 is must for fresh buying towards 7600 followed by 7850. On the downside 7390 is the nearest support level.
Trade Strategy for Intraday Futures: long positions can be created above 7530 with the targets of 7558 followed by 7586 and stoploss of 7502 levels.
Trade set up for Positional Futures – long positions can be created above 7530 with the targets of 7650 and stoploss of 7460 levels (one can book part profit near 7570-7590 and trail stoploss to cost)
Trade strategy for options – Buy BAJFINANCE 7200 CE Buy above 360 with stoploss 320 and target of 425 (one can book part profit near 370-380 and trail stoploss to cost)
Bajaj Finance hourly chart happened as on 28th January 2025
Happened:
Bajaj Finance moved on the upside as expected after breaching above 7530 levels. Stock achieved targets in cash segment as well as in futures and options segment. In today’s session stock made high of 7649 and surged by more than 1.50% from buying level. This rise we were able to capture with the help of Neo wave and Ichimoku cloud.
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