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EWT – Bajaj Finance Is Preparing For Impulsive Wave (5)

Free nse bajaj finance chart calls

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Free nse bajaj finance chart calls

Timeframe: Daily

The impulsive structure began at the low of 5220. It was a classic impulse pattern with five wave moves. Currently, Price has started unfolding impulse wave 5.

Wave Formations:

  • Wave 1 – Impulse
  • Wave 2 – zigzag
  • Wave 3 – Extended Impulse
  • Wave 4 – Running flat
  • Wave 5 – In progress

The Fibonacci Relationship:

  • Wave 2 – 78.6% of wave 1
  • Wave 4 – 38.1% of wave 3
  • *Wave 5 – not more than 161.8% of 4th wave, reverse Fibonacci retracement at 8000.

If NSE BAJFINANCE sustains above 7100, traders can buy for the following targets: 7524 – 7756 – 7921. Although prices are moving forward, we should not take a blind entry.

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