Bajaj Finance - Analysis for Intraday and Swing Trading

Bajaj Finance is the stock that we are going to analyse today based on Open Interest and Change in Open Interest for swing as well as Intraday Trade. We also check the Trend Cycles of it. Before this, we have analyzed Glenmark Pharma : You can check here.

Bajaj Finance  Option Front :
Bajaj Finance has given closing at 2698.6 on 19th June 2020. Highest call open interest is at 2700 strike price, followed by 2800 and highest Open interest at put side is at 2000 strike followed by 2400.

Trading Range Of Bajaj Finance 
Now time to find out the trading range of the Bajaj Finance. For this purpose, we need to look for the highest call OI Row and Highest Put OI Row on the option chain of the Bajaj Finance. Trading range seems to be 2000 to 2800.

1. Highest Call at 2700
2. Highest Put at 2000. 
1. Pivot Strike at 2700.

Highest call acts as the highest resistance and highest put will act as the highest support for the stocks.
Trend Cycles
Bajaj Finance Trend Cycles
Bajaj Finance is near at very important resistance that is 2700. If it sustains below 2700 then some move towards 2400 and 2000 can be seen. And if able to sustain above the resistance at 2700, some short cover may take it towards 2800.

This may take 6 to 7 trading days to happen. In the last two days, Bajaj Finance has given long-long. If we get another long then 2800 will be on the cards otherwise 2400 and 2000 can be seen. These all depend on the pivot level 2700 as it is the make or break level for the Bajaj Finance.

Disclaimer: The analysis has been prepared for informational and educational purposes only. It is not and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.

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