Bajaj Finance: Navigating Key Technical Levels
Key Technical Levels
Monthly Resistance: Identified at ₹8,000
Monthly Support: Established at ₹6400 and ₹5,327
Weekly Resistance: Positioned at ₹7,757
Price Action and Chart Patterns
Higher Lows: Bajaj Finance is forming higher lows on the weekly timeframe, indicating a gradual buildup of possible bullish momentum. This pattern suggests a potential breakout if the stock can sustain above the weekly resistance of ₹7,757.
Monthly MACD: The Monthly Moving Average Convergence Divergence (MACD) indicates a gradual decline in selling pressure, suggesting potential bullish momentum.
Market Outlook:
It's important to note that the broader market is anticipated to undergo a correction until March 2025, potentially leading to heightened volatility during this period.
Disclaimer:
This analysis is for informational purposes only and should not be construed as financial advice. Investing in the stock market involves risks, and it's advisable to consult with a certified financial advisor before making investment decisions.
Monthly Resistance: Identified at ₹8,000
Monthly Support: Established at ₹6400 and ₹5,327
Weekly Resistance: Positioned at ₹7,757
Price Action and Chart Patterns
Higher Lows: Bajaj Finance is forming higher lows on the weekly timeframe, indicating a gradual buildup of possible bullish momentum. This pattern suggests a potential breakout if the stock can sustain above the weekly resistance of ₹7,757.
Monthly MACD: The Monthly Moving Average Convergence Divergence (MACD) indicates a gradual decline in selling pressure, suggesting potential bullish momentum.
Market Outlook:
It's important to note that the broader market is anticipated to undergo a correction until March 2025, potentially leading to heightened volatility during this period.
Disclaimer:
This analysis is for informational purposes only and should not be construed as financial advice. Investing in the stock market involves risks, and it's advisable to consult with a certified financial advisor before making investment decisions.
Note
Bullish momentum will only happen once the markets downtrend settles.
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.