Bajaj Finance Breaks Out of Multi-Year Channel!
Bajaj Finance (BAJFINANCE) has finally broken out of a long-term consolidation channel on the upper side, signaling a potential bullish breakout. This breakout comes after more than three years of price action within a well-defined range.
🔎 Key Observations:
✅ Breakout Above Resistance: Price has decisively moved above the upper boundary of the channel.
✅ Strong Momentum: The breakout is supported by increasing volume, indicating strong buying interest.
✅ MACD Strength: The MACD indicator shows a strong bullish crossover, further supporting upward momentum.
🎯 Possible Targets:
Immediate resistance at ₹8,500+
Potential upside towards ₹9,000 – ₹9,500 in the coming months if momentum sustains.
⚠️ Risk Management:
Watch for retest of breakout level (~₹7,900 – ₹8,000) before entering.
Support levels around ₹7,500 – ₹7,200 in case of a pullback.
📊 Conclusion: The breakout from this long consolidation range suggests a fresh uptrend may be in play. Traders and investors should closely monitor price action for confirmation and volume follow-through. 🚀
🔔 What’s your take on Bajaj Finance’s breakout? Share your thoughts below! 👇
🔎 Key Observations:
✅ Breakout Above Resistance: Price has decisively moved above the upper boundary of the channel.
✅ Strong Momentum: The breakout is supported by increasing volume, indicating strong buying interest.
✅ MACD Strength: The MACD indicator shows a strong bullish crossover, further supporting upward momentum.
🎯 Possible Targets:
Immediate resistance at ₹8,500+
Potential upside towards ₹9,000 – ₹9,500 in the coming months if momentum sustains.
⚠️ Risk Management:
Watch for retest of breakout level (~₹7,900 – ₹8,000) before entering.
Support levels around ₹7,500 – ₹7,200 in case of a pullback.
📊 Conclusion: The breakout from this long consolidation range suggests a fresh uptrend may be in play. Traders and investors should closely monitor price action for confirmation and volume follow-through. 🚀
🔔 What’s your take on Bajaj Finance’s breakout? Share your thoughts below! 👇
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.