Bajaj Auto (Almost completing a Trend to Break up or down ?)
The stock has been in a uptrend for a while now. It has faced some heavy resistance at 3155 and is hovering in and around that area for more than a week now.
The stock has formed a Similar high while the RSI as marked has formed a lower high indicating a divergence which shows that the price should continue going down to fill in the gap. A breach of either side (The trend line or the resistance at 3155) can give a good momentum move. Long side has to be tracked intensively as there are several point of reversals, short side can still have some room and can be tracked via a trailing SL.
The stock has formed a Similar high while the RSI as marked has formed a lower high indicating a divergence which shows that the price should continue going down to fill in the gap. A breach of either side (The trend line or the resistance at 3155) can give a good momentum move. Long side has to be tracked intensively as there are several point of reversals, short side can still have some room and can be tracked via a trailing SL.