BAJAJFINSV - Symmetrical Triangle Breakout🔊 BAJAJFINSV- Symmetrical Triangle Breakout
BAJAJFINSV- BAJAJ FINSERV LTD.
⌛Duration - Short Term (4 month to 8 month)
📊📈 Trade Logic - Symmetrical Triangle Breakout
CMP - 1783
Time Frame - Weekly
🎯Target 1 : 1950
🎯Target 2 : 2200
🎯Target 3 : 2475
🎯Target 4 : 2750
🛑 Stop : 1500
🏆 Risk/Reward Ratio (1: 3.3)
Disclaimer: The stock information shared above is not a recommendation to buy, sell, or hold. It reflects my own analysis and is intended solely for educational purposes. Any actions you take based on this information are your responsibility, and the admin of this channel is not liable for any financial gains or losses. Please consult a financial advisor before making any investment decisions. I am not a SEBI-registered advisor.
BAJAJFINSV
BAJAJFINSV | Swing Trade📊 DETAILS
Sector: Finance - Investment
Mkt Cap: 267,266 cr
Bajaj Finserv Ltd. is the holding company for the various financial services businesses under the Bajaj group. It serves millions of customers by providing solutions for asset acquisition through financing, asset protection through general insurance, family and income protection in the form of life and health insurance, and retirement and savings solutions.
TTM PE : 34.27 (Low PE)
Sector PE : 40.04
Beta : 0.85
📚 INSIGHTS
Mid-range performer
Stock with medium financial performance with average price momentum and valuation. These stocks may be affordable and are showing some investors interest.
5.58% away from 52 week high
Outperformer - Bajaj Finserv up by 8.22% v/s NIFTY 50 up by 0.7% in last 1 month
📈 FINANCIALS
Piotroski Score of 5/9 indicates Average Financials
Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst.
If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you.
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Bajaj Twins looks good bet for FY 2024-25.Bajaj Twin are waiting for a move while other stocks of the group has given good returns in last few months.
Both the finance sector companies are trading a break out zone. Banks and other NBFC's has performed and created new highs.
Bajaj Finance
A bullish engulfing candle on the monthly charts is showing some trend reversal in the stock and has gained over 10% this month.
Price action traders can seen the bullishness in the stock and it is trading in a consolidation zone creating a bullish break out pattern.
There are chances of it consolidating around 7600-7800 levels and break out the higher 8200 levels creating a new ATH.
Volume profile ,since April '24, is also showing much of the activity happening around the trading price which signifies less selling volume on the higher levels on monthly charts.
Investment and positional stock holding in these stocks seems good for this FY.
Target price as per Fib Ext. are 8700-9250.
Bajaj Finserv
Its ATH high is 1932.50 and the stock is trading around 1644 levels.
Multi-month consolidation break out can be seen in the stock. If the stock starts to sustain above 1850-60, there are high chance of it giving 30-40% returns in coming FY.
The major resistance around 1860 is there and a break out is there just below the levels around 1700.
A position on the triangle break can be initiated with 25% of the investment capital and add on to the position on the horizontal zone break out.
Volume profile of Bajaj Twins are matching and are at the trading price. More bullish confluences help in carrying the trade and it is doing it.
The target price of 2100-2250 can be predicted as per the Fibonacci extention tool.
Entry should be made only after watching a price action or a break out with good volumes while closing over the levels on weekly or monthly charts.
Chart patterns and trading them are different thing. Price will be traded and chart pattern will help built the confidence.
BAJAJ FINSERV - Bullish Swing Reversal with VolumesNSE: BAJAJFINSV is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 11% to 16% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
BAJAJFINSV - Investing/Positional Trade opportunityThe analysis is done on Weekly TF hence price may take few weeks to few months in order to reach the targets. Trade setup is explained in image itself. Price has been in narrow range for past few weeks before breakout from that narrow range with increased volume
Price has tried multiple times to break the trendline (multiple testing makes a resistance/support weaker)
On breakout of ATH level, it can turn into a multi-year breakout as well
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
Intraday trade in Bajaj Finserv 05/03/24.
Bajaj finserv has tested the upper resistance levels and there are chance of it giving a break out.
An intraday bullish trade can be captured in the stock.
If there is a gap up opening and price is around 1625-30, with a strict stop loss around 1615-20 an entry can be made.
Target levels :- 1647, 1660.
If the Cup and handle formation pattern follows up, Stop loss can be trailed with atleast 1675 as final targets.
Wait for the price to sustain above the resistance zone. Watch the movement in the indices to correlate.
Price action must be watched around the levels and trade accordingly.
IS BAJAJ FINSERV FORMING A W PATTERN?Bajaj Finserv form double bottom and if it hold the support zone of 1560 to 1550, we expect to see 1650 and then rally towards 1720 levels. Will get confirmation for W above 1665 only.
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Happy Trading!
InvestPro India
BAJAJFINSV | Swing Trade📊 Details
Bajaj Finserv Ltd. is the holding company for the various financial services businesses under the Bajaj group. It serves millions of customers by providing solutions for asset acquisition through financing, asset protection through general insurance, family and income protection in the form of life and health insurance, and retirement and savings solutions.
Disclaimer: This analysis is solely for educational purposes and does not make me a SEBI registered analyst.
If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you.
🔍 More Analysis & Trade Setups 🔍
For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
04 Jan ’24 — Banks does the powerlifting for the reversal todayBankNifty Analysis - Stance Neutral ➡️
The powerlifting was done by BankNifty today. The Bajaj Finserv and Finance were on fire today and were propelling FinNifty to a higher variance than BankNifty earlier in the day. However, the close ensured the variance was less than 0.2%
4mts chart link
Honestly, we did not see this coming. The setup was perfect for a Bear run, the first hour of trade almost froze us so that we could not build onto expiry positions on Nifty. Since the stop loss was hit, we had to make multiple adjustments to stay in green. Was this a turn of events or a blip is something we are not completely sure of? Ideally, the bear run was just starting, and it would be sad if it ran out like this.
63mts chart link
It is prudent to draw a new support line at 47539, the level from where we got the inflection today. To reclaim bullishness, BankNifty has to re-enter the ascending channel. If that happens tomorrow then the level to beat is 48700 which would mean it will take out the ATH. Since we changed the stance to neutral from bearish, a sensible move would be to go sideways without breaking the support of 47539.
BAJAJFINSV -- On raise - Need to waitBAJAJFINSV -- On raise
From a long-term investment point of view - RSI is rising on Weekly and Monthly.
Also stock is trading above most of the moving averages on D/W/M time frames.
As we can see on the Weekly time frame - forming a triangle pattern and waiting for 1741 level to take out and sustain before entry.
We can back to Back for two weeks - 1741 is high and not able to sustain this level.
During the March time frame also - we can see, stock tries to break out on the downside and bounce back from 1230-40 levels.
If already entered this during the past two weeks with upside momentum --- wait for 1741 to take out and then, we can add more.
And in any case, the breakout on the downside of the triangle will be our stop loss.
Another view :
Another view on Daily Time frame :
Market Profiling View on Weekly Time frame