Bajaj Finance, one of the most stable companies in the NBFC space has been making higher highs and higher lows since the recent fall where the stock witnessed levels as low as 1800. After a strong upmove the stock has been consolidating in a narrow range in the last month. The weekly chart shows positive swing trade setup and can offer attractive risk reward for those who are comfortable holding the stock. One can see the formation of a possible bullish flag
and a break above the flag can take the price to the targets marked in the chart.
The first version of this analysis appeared in the educational blog of Center for Research in Asset Markets and Economy (CRAME), Christ (Deemed to be University) Lavasa
The content provided in CRAME blog is for educational purposes only. CRAME or the analyst(s) do(es) not assume any responsibility for the financial decisions/actions made on the basis of the analysis presented in the blog.
Prof. Binu P Paul PhD
Prof. Soumya V ACSI