CUP & HANDLE ON THE CHART - IS BAJAJ FINSERV READY FOR LIFTOFF?

Symbol - BAJAJFINSV

Bajaj Finserv Ltd. is a leading Indian financial services company engaged in insurance, lending, asset management, and wealth advisory. It operates through its subsidiaries like Bajaj Finance and Bajaj Allianz, making it a major player in the sector. The company is classified as a Systemically Important Non-Deposit taking NBFC.

Bajaj Finserv has recently shown a strong bullish breakout after forming a cup and handle pattern on the larger TF charts - A widely recognized bullish continuation setup. The breakout has occurred with notable volume, lending credibility to the move and signaling the potential for a sustained uptrend.

The stock is currently trading just above its breakout point, and a retest of the breakout zone 1980-2000 is possible. This area now acts as a strong support and provides an attractive entry opportunity for long positions.

Based on the technical pattern, the medium-term target for the move is projected at around 2450, implying an upside of nearly 22% from current levels. The pattern’s depth and the strength of the breakout support this target.

For risk management, a stop loss around 1800 is suggested, just below the handle's base, providing a good risk-to-reward setup.

The formation and breakout from the cup and handle pattern on a higher time frame adds strong bullish conviction to Bajaj Finserv’s chart. For investors looking to ride a medium-term trend with favorable risk-reward dynamics, this may be an opportune moment to enter or accumulate.





Disclaimer: The information provided here should not be construed as a buy or sell recommendation. It reflects my personal analysis and my trading position. Please consider this trading idea for educational purposes only. Thank you!