Profit booking may start now since stock has been in uptrend for some time. RSI : Overbought Candle - Bearish Harami MA - Stock may retrace upto 10 DMA (1940 - 1960)
Bajaj Finance formed a triangle patter on hourly charts, move beyond the channel can give easy 5-7% move either side, keep a watch on it and make full out of it.
It's no surprise that some of the companies on NSE Index are currently priced at extremely rich valuations and Bajaj Finance fits that criteria, in my opinion, perfectly. Fundamentally, the company is valued at 65,000 crore market cap which makes it almost as big as two of the largest lenders in India, Bank Of Baroda and Punjab National Bank...
for this 945 is acting as readily active resistance for time being. wait for fresh break out for bank nifty strength. should close above 915 in daily closing basis with volume.
Bajaj Finance has been trading in down trend and after retracing the crucial 50% fibo level it has been trading in upward direction, it closed today with bearish sign (shooting Star) and it may further touch the support before going in upward direction. traders may enter short in this stock with a target of 850 in near term.