Chart Analysis for Bajaj Finserv Ltd. (Weekly Timeframe)
The stock is forming a bullish triangle pattern, a classic continuation pattern signaling potential upside. The price is respecting the ascending trendline, showing strong support near ₹1,700 levels, while the upper resistance line has been tested multiple times. This signifies increasing buyer strength.
Key Levels to Watch:
• Support: ₹1,698
• Resistance (Breakout Level): ₹2,050
• Target Price (Post Breakout): ₹2,336 (derived from the triangle’s height projection).
• Stop Loss: ₹1,515 (below the trendline support).
Short-Term Long Trade Setup
• Entry: Around ₹1,700, once the price shows bullish confirmation (e.g., reversal candlestick patterns or high volume).
• Target: ₹2,050 (short-term) and ₹2,336 (medium-term).
• Stop Loss: ₹1,515 to manage risk effectively.
Market Sentiment:
The stock shows a bullish structure, supported by prior consolidation and breakout potential. Patience is key for confirming a breakout above ₹2,050 before expecting the measured move towards ₹2,336.
DISCLAIMER- Please do your own research before investing in the market. This is for educational purposes only
Key Levels to Watch:
• Support: ₹1,698
• Resistance (Breakout Level): ₹2,050
• Target Price (Post Breakout): ₹2,336 (derived from the triangle’s height projection).
• Stop Loss: ₹1,515 (below the trendline support).
Short-Term Long Trade Setup
• Entry: Around ₹1,700, once the price shows bullish confirmation (e.g., reversal candlestick patterns or high volume).
• Target: ₹2,050 (short-term) and ₹2,336 (medium-term).
• Stop Loss: ₹1,515 to manage risk effectively.
Market Sentiment:
The stock shows a bullish structure, supported by prior consolidation and breakout potential. Patience is key for confirming a breakout above ₹2,050 before expecting the measured move towards ₹2,336.
DISCLAIMER- Please do your own research before investing in the market. This is for educational purposes only
Disclaimer
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