Bajaj Finance - Breakout Confirmed! Heading Toward ₹11,850?
Bajaj Finance (BAJFINANCE) has broken out of its multi-year consolidation range with strong momentum. The ascending trendline and breakout suggest a bullish continuation toward ₹11,850. Watch for pullbacks to enter long positions.
Key Observations:
1. Ascending Trendline Support:
- The stock has consistently respected the ascending trendline since 2021, with multiple bounces (marked by green arrows), indicating strong bullish momentum.
2. Breakout Above Resistance:
- After consolidating between for nearly two years, the price has finally broken above the resistance zone, confirming a bullish breakout.
3. Upside Potential:
- Based on the height of the previous consolidation range, the breakout target is projected at ₹11,850.
5. Strong Base Support:
- The ₹6,500–₹7,000 zone remains a strong support area in case of any pullbacks.
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Disclaimer:
This analysis is for informational and educational purposes only and does not constitute financial advice. Trading involves risk, and past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.*
Key Observations:
1. Ascending Trendline Support:
- The stock has consistently respected the ascending trendline since 2021, with multiple bounces (marked by green arrows), indicating strong bullish momentum.
2. Breakout Above Resistance:
- After consolidating between for nearly two years, the price has finally broken above the resistance zone, confirming a bullish breakout.
3. Upside Potential:
- Based on the height of the previous consolidation range, the breakout target is projected at ₹11,850.
5. Strong Base Support:
- The ₹6,500–₹7,000 zone remains a strong support area in case of any pullbacks.
---
Disclaimer:
This analysis is for informational and educational purposes only and does not constitute financial advice. Trading involves risk, and past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.*
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.
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.