1.Technical Analysis:- The technical analysis of Bajaj Finance's stock reveals positive indicators.
The recent breakout in the bullish wedge pattern and the long-term bullish flag pattern
suggest a potential upward momentum in the stock price.
2. Price Breakout and Long-Term Support: The stock has taken long-term support, indicating a
potential bottoming out and providing a solid foundation for further price appreciation.
3.Target Price: Based on my analysis , the target price for Bajaj Finance is set at 8900. This
projection assumes the continuation of the identified patterns and the sustained upward
trajectory of the stock price.
4.Interest Rates: A positive factor for Bajaj Finance and other non-banking financial companies
(NBFCs) and banks is the current environment of stable interest rates. With interest rates no
longer being hiked, this provides a favorable backdrop for lending institutions. Lower interest
rates can incentivize borrowing, stimulate economic growth, and potentially contribute to the
growth prospects of Bajaj Finance.
5.Parent Company Investment:The recent news of Bajaj Finserv, the parent company of Bajaj
Finance, investing a significant amount in Maharashtra brings additional positive sentiment.
This investment not only demonstrates the confidence of the parent company but also
suggests potential growth opportunities for Bajaj Finance in the region. It can contribute to
enhancing the company's market position and expanding its customer base.
The recent breakout in the bullish wedge pattern and the long-term bullish flag pattern
suggest a potential upward momentum in the stock price.
2. Price Breakout and Long-Term Support: The stock has taken long-term support, indicating a
potential bottoming out and providing a solid foundation for further price appreciation.
3.Target Price: Based on my analysis , the target price for Bajaj Finance is set at 8900. This
projection assumes the continuation of the identified patterns and the sustained upward
trajectory of the stock price.
4.Interest Rates: A positive factor for Bajaj Finance and other non-banking financial companies
(NBFCs) and banks is the current environment of stable interest rates. With interest rates no
longer being hiked, this provides a favorable backdrop for lending institutions. Lower interest
rates can incentivize borrowing, stimulate economic growth, and potentially contribute to the
growth prospects of Bajaj Finance.
5.Parent Company Investment:The recent news of Bajaj Finserv, the parent company of Bajaj
Finance, investing a significant amount in Maharashtra brings additional positive sentiment.
This investment not only demonstrates the confidence of the parent company but also
suggests potential growth opportunities for Bajaj Finance in the region. It can contribute to
enhancing the company's market position and expanding its customer base.
Trade closed manually:
Stock still good for long term holding , I am closing my position so updated . give it time of 5-6 months for another swing opportunity .
People will post about long position short position and stuff but proper swing setup will take time to form .
EXITED AT 7800.
Price target for long term 9800.
People will post about long position short position and stuff but proper swing setup will take time to form .
EXITED AT 7800.
Price target for long term 9800.