techtrail

Bajaj Finance: Nice Breakout, Waiting For Follow Through

NSE:BAJFINANCE   BAJAJ FINANCE LTD
Bajaj Finance has been one of the relative outperformers in comparison to the Nifty 50 Index. After a period of consolidation, the price registered a breakout yesterday with huge trading volume . I am watching this stock with interest and looking for clues as to the nature of this breakout. One possibility is that the breakout is an "upthrust" and price could then quickly drift back into the trading range. The other possibility is a genuine breakout and stock flying away to further heights. IF the second scenario plays out, the price should typically drift lower with narrow range bars and thin volume and then register another big green wide ranged bar.

Lets wait and watch which scenario plays out.

Comments

Nice presentation and well explained too... ! Keep it up..
This is the fastest nifty compounder, returned almost 70% CAGR in last 5 yrs...! !
Looking at the charts, do you think it will continue its pace ?
Reply
nice explanation. i saw it has bullish flag breakout, which is 300 rs range, i feel it go upto 2178 . there may be few consolidation before reaching .
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out