Head and Shoulders pattern is observed in this stock... recently price broken the neckline... Demand Zone is observed at 6000 levels... if neckline acts as resistance chances of fall back is more. this stock price is now in consolidation a retest to the neckline may be observed before pushing it downwards again... find short opportunities in this stock. If no...
The stock is currently falling in Wave "B" and is expected to complete the wave close to the INR 6600 mark. A small bump up from current level is possible towards INR7250 but INR 7400 will continue to be a major resistance for the stock. Upon the completion of the bump-up the fall should again resume and the price should proceed towards the projected target zone.
The indicators used to analyze this chart suggests that BAJFINANCE will probably reverse after a strong movement where the stock was overbought. As we can see, MACD line has just passed the signal line, indicating the presence of a bullish momentum. DMI indicator shows us that the uptrend is not strong anymore because +DM and -DM are closer than before now. And...
Very High RSI and ADX. Bajaj Finance is likely to consolidate now.
bajfin 11-year history this year big profit booking buy long term investors but still has potential to go upside or it can hold a level of 2019 candle range