Potential Breakout Opportunity in Bajaj Finserv Ltd. Bajaj Finserv Ltd. is currently forming a classic ascending triangle pattern on the monthly chart, a bullish continuation pattern often signaling a potential breakout. The price has been consolidating within this pattern, making higher lows, and is now approaching the resistance level at around ₹1,925.
Key Levels:
Support: The lower trendline, which has been acting as a strong support, currently lies near ₹1,600.
Resistance: The upper trendline, around ₹1,925, is the critical level to watch for a breakout.
Target 1: ₹1,925, where the price is expected to test the resistance.
Target 2: ₹2,300, which could be the next significant level if the breakout holds.
Indicators:
RSI: Currently around 62, indicating momentum is building but not yet overbought, supporting the potential for further upside.
Volume: Gradual increase in volume suggests accumulation, which might fuel the breakout.
Disclaimer - This is just for education purpose only. Take financial advice from financial advisor before investing.