Good Morning sir's
Today's first dish in our breakfast menu is Bajaj finance, Sitting on their Dynamic support daily and in a 4-hour time frame. Stock is damn bullish since June month but 1st Quarter Results has stopped the stock rally and stocks give a correction. but the news impact is always for a shorter time frame. anything can happen at this point. Support...
Buy Bajaj Finance using Elliot Impulse Wave and three Trend lines yellow, green and red trend lines . Buy at 3118.40 price .Target of 3734 around 18% . Stop Loss is the red line around 3.61%- If it starts breaking the red trend line . Then it can go Down. Also RSI there seems more room for downward movement once it reaches around 36 RSI Level then Buy.
Bajaj Finance informed on Monday it may consider additional accelerated provisioning for Covid-19 in the first quarter of fiscal year 2021 to further strengthen its balance sheet.
BajFin were moving between 200EMA (Resistance) and 100EMA (Support) and also following the levels on Fib ret.
Today stock made High above 200EMA but closed below.Today volume was 11.438M...
Bajaj Finance Ltd Technical Analysis Indian Stocks Market
Bajaj Finance is engaged in the business of lending and primarily deals in financing of two and three-wheelers, consumer durables, small business loans, personal loans, mortgage loans, loan against securities, etc.