The stock was trading inside a rising channel for a long time but eventually broke down from it.
After the breakdown, a retest of the broken support trendline was observed, confirming weakness.
Currently, the price is struggling near the ₹890–₹900 zone, which is acting as a resistance.
The critical support lies around ₹850.
⚠️ If the stock closes below ₹850, it will confirm further bearish momentum.
The next support levels open up towards ₹820–₹800, which is also a strong demand zone (green highlighted area on chart).
📌 Summary:
Unless the stock reclaims and sustains above ₹900, the bias remains weak. A close below ₹850 can accelerate the fall toward ₹820–₹800.
After the breakdown, a retest of the broken support trendline was observed, confirming weakness.
Currently, the price is struggling near the ₹890–₹900 zone, which is acting as a resistance.
The critical support lies around ₹850.
⚠️ If the stock closes below ₹850, it will confirm further bearish momentum.
The next support levels open up towards ₹820–₹800, which is also a strong demand zone (green highlighted area on chart).
📌 Summary:
Unless the stock reclaims and sustains above ₹900, the bias remains weak. A close below ₹850 can accelerate the fall toward ₹820–₹800.
Order cancelled
"BajFinance did not close below 850 and has broken above 900. Therefore, the bearish trade setup is invalid. Apologies for the delayed update."
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.