Bajaj Finserv 2 Nov 24 Inv H&S HourlyBajaj Finserv
2 Nov 24 Inv H&S Hourly Potential Opportunity
On lower time frame it looks good with decent r:R of 1:3
Bit cautious on the higher time frame until further price unfolds
Entry 1777
T1 1825
Bajajfinserv
Bajaj Finserv again looking good to go longBajaj Finserv Ltd. is a holding company involves in lending, insurance, and wealth advisory businesses. It operates through the following segments: Life Insurance, General Insurance, Windmill, Retail Financing, and Investments and Others. It is also the holding company for generation of Electric power through conventional and unconventional methods.
Negative aspects of the company are high PE, High promoter stock pledges and company not able to generate enough cash through operations. There were increased provisions for NPA during the recent results.
Positive aspects of the company are MFs increased stake in the company in past month, company reducing debt, FIIs increasing stake in the company and increasing revenues since last 3 quarters.
Entry can be taken after closing above 1613. Targets in the stock will be 1633 and 1663. The long-term target in the stock will be 1692 and 1724. Stop loss in the stock should be maintained at Closing below 1515 on a weekly closing.
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
Bajaj Finserv Ltd (ticker: BAJAJFINSV) ForecastThe chart provided is a weekly candlestick chart for Bajaj Finserv Ltd (ticker: BAJAJFINSV) on the National Stock Exchange (NSE). Here is a detailed analysis and summary of the chart:
Timeframe and Data:
- Timeframe: Weekly
- Data Range: From mid-2021 to mid-2024
Price Analysis:
- Current Price: ₹1,601.70
- Price Movement: The stock has experienced significant volatility over the period, with notable highs and lows.
- The price reached a high near ₹2,200 in mid-2021 and has since been in a downward consolidation pattern.
Technical Patterns and Indicators:
- Symmetrical Triangle: The stock appears to be forming a symmetrical triangle pattern, which is typically a continuation pattern. The price is converging between the upward trendline (support) and the downward trendline (resistance).
- Upper Trendline Resistance: Around ₹1,734.30
- Lower Trendline Support: Near the major support zone around ₹1,323.15 to ₹1,350.00
- Major Support Zone: The area between ₹1,323.15 and ₹1,350.00 has acted as a significant support level in the past, preventing further decline.
Key Levels and Future Projections:
- Resistance Levels:
- Immediate Resistance: Around ₹1,734.30 (upper trendline of the triangle)
- Next Resistance: Around ₹1,841.60
- Major Resistance: Around ₹2,020.45
- Support Levels:
- Immediate Support: The major support zone between ₹1,323.15 and ₹1,350.00
- Trendline Support: The upward trendline of the symmetrical triangle around the current price level
Trade Setup:
- Bullish Scenario: If the price breaks above the immediate resistance at ₹1,734.30 and sustains above this level, it could potentially move towards the next resistance levels at ₹1,841.60 and ₹2,020.45. This would confirm a breakout from the symmetrical triangle pattern.
- Bearish Scenario: If the price fails to break above the immediate resistance and moves below the major support zone, it could indicate a potential downside towards the lower levels.
Conclusion:
The chart for Bajaj Finserv Ltd shows the stock in a consolidation phase within a symmetrical triangle pattern following a significant decline from mid-2021. Key levels to watch include the immediate resistance at ₹1,734.30 and the major support zone around ₹1,323.15 to ₹1,350.00. A breakout above ₹1,734.30 could signal a bullish move towards ₹1,841.60 and ₹2,020.45, while a failure to hold above the major support zone could indicate potential further downside. Traders should look for a confirmed breakout in either direction to make informed trading decisions.
Bajaj Finserv Ltd - 20.03.2023Dear Followers,
Hi Folks. I am posting a Chart after a long time due to the regulatory issues in my country.
I have done the analysis on Bajaj Finserv Ltd - Daily Chart from 01.01.2022 - 20.03.2023
The stock has been in a continuous downtrend since past few months.
The daily chart have a Double Bottom @ 1246 levels which is considered a STRONG SUPPORT ZONE.
The Prices are below EMA. Let the prices go above 1339 to enter a long position
There is a Bullish Divergence in RSI which needs a tick up for further upside movement.
The stock will create a very good upside movement once it goes above 1339 levels
Watch out for the price action.
DISCLAIMER: Please be advised that this Chart is for educational purposes only and shall not be consideration as a Buy / Sell Recommendation.
BAJAJ FINSERVBAJAJ FINSERV is currently in a bearish trend and is going to hit its immediate support zone of 1100 levels.
For now, it is good to short this stock for some time till it reaches its support zone.
Trade safe. Manage risk. Be profitable.
Please follow us for more simple trading analysis and setups. Also, let me know in the comment if you have any queries.
Disclaimer:- This is my view. Please analyze the charts yourself and then decide to take any trades.
BAJAJ FINSERV Trend AnalysisExpecting further fall towards 11500 level which is at key support and weekly RSI showing strong bullish divergence.
If price bounces up from key support then 15500 level will act as strong resistance level.
If key support breaks then next support will be the trendline support around 8600 level. (Highly likely as it is overvalued and promoters are selling)
Best to accumulate below 9000 level.
Will update the targets later, meanwhile mind the resistance mentioned.
Do your own due diligence before taking any action.
Peace!!
BAJAJ FINSV
THANK YOU... if its the previous day high breck we are going to long side and "tg" and "stoploss" 1st we go with 1:2 ratio then we going with 1:4.
have a grate day to all.
thank you/.......
Bajaj finserv trade setupBajaj finserv is good for swing trading. It has formed and bullish engulfing pattern on daily time frame.
The stock has retested the previous trend line and is near the resistance level of 16570.
If the stock cross the level with volume confirmation, it can move up to the level of 18000.
Bajajfinserv will give a good move on long side.
Target :- 18000, 18500.
At critical support zoneCurrently at 16600 , 16600-16200 being a very strong support zone. If this level is broke then it is better to stay away from this stock. Trading below 50sma pure bearish trend. 17800 being very strong resistance
The cost of IGNORANCE: personal example, 10k profit vs 9L profitJust this morning, @AVENUESOFINVESTMENT told me of how he found 50 shares of NSE:BAJAJFINSV that he had sold back in 2013. Those shares would have been worth 9L today! We sold it for 30k, with a profit of no more than 15k or so. But if we had held on to them till date (considering that it's an investment), the position would be worth around 9L! This is why it's important to be aware of basic fundamentals and technicals and, more importantly, to be money-minded. Happy trading and investing!
Buy Bajajfinserv Target 🎯 18500Buy Bajajfinserv Target 🎯 18500 because it has recently given major breakout .
Buy Bajajfinserv Target 🎯 15500Buy Bajajfinserv Target 🎯 15500 because it is it's above major Resistance thatwhy it will go till 15500
Bajaj Finserv Channel Breakout
All the key levels are mentioned in chart
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
BajajFinserv - Weakness on Closing Below 8711 Fib RetracementBajaj Finserv has had a fantastic run in November however last four trading days of November it has not been able to cross blue trend line which signifies long term wedge it was following pre covid.
Barely keeping above the 78.6% Retracement Level and failing to close above trend line.
Look to short on closing below 8711 for a decisive down turn till ultimate level of 7055
pay close attention to bajaj finserv. wait for breakout.this chart is for short term, few days ago, i have posted long term chart of bajaj finserv.
BAJAJ FINSERV | Bottom is in.This is the cheapest you can get your hands on this stock for.
-Clearly there is a triple bottom formation and institutional buying at these levels
-Volume agrees with it.
- As a trader I would be a huge buyer if the price action breaks above the rectangle.
- If you're a long term hodler this is your time to shine.
Note: Considering Prime Minister Narendra Modi's declaration of an economic stimulus many businesses will see a strong upside. Although I would keep an eye on the current COVID-19 situation.
Happy trading!
-Kautilya.K
