finalyticsbreweries

Bajaj Finance: Shifting Price Levels

NSE:BAJFINANCE   BAJAJ FINANCE LTD
Bajaj Finance fell today post result declaration. A mega bull run has halted temporarily.
Much need correction in price has been started.

Scrip is following consolidation followed by a brief upmove strategy, Thus shifting price levels in a ladder-like structure.

It will retest the 3115-3130 levels on further correction( lower levels of Top-most rectangle ). And can start its uptrend journey here to 3500 levels.

If broke the 3115 level, expected further correction till 3010.
Trade closed: target reached: Trading above 3500 levels

Comments

thanks, i was having the same opinion and now i feel better since we are having a common opinion
+2 Reply
thanks
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Need not to be worried when target to hold is for a span of 5 years as it doesn't matter even if it touches 2500 for time being. stock is bound to outperform in long run.
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I bought 20 shares at Rs2000 , my investment horizon is 3 to 5 years , should I book profit and re enter at lower level or continue to hold and buy on dips ?
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@jdsc1970, buy price on 2000 is a great deal. I would suggest the approach of partial profit booking & simultaneously accumulating on dips.
Thus you will remain in trade and consistent profits will be generated as well.
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How long do we have to wait to get 3130 level? Any input is highly appreciated.
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@dsamanta87, There is an intermediate support level around 3200-3210 which it didn't broke today.
Nifty has shown some weakness today. In case of further correction in Nifty, Bajaj will try to touch 3110 levels.
Otherwise, Bajaj is now Long from current levels if Nifty continues its upward journey.
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dsamanta87 finalyticsbreweries
@finalyticsbreweries, thank you. I am holding 204 units @ 3300 for five years plan. Got some relief from your response. Thank you.
+1 Reply
Thanks. it's really useful info
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Good News 🙂
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