Finance Sector Leader on Breakout with Huge Volume--What’s Next?Hey Traders!
Hope you're all doing great! There’s an exciting trading idea setting up with Bajaj Finance , and I couldn’t wait to share it with you. The stock is forming a classic Ascending Triangle Pattern , and based on this setup, we're expecting a nice breakout soon. Let’s break it down.
Technical Analysis: Ascending Triangle Pattern
The Ascending Triangle is a bullish continuation pattern that indicates strong buyer interest and a potential breakout. Bajaj Finance has formed a clear ascending triangle , with a horizontal resistance at the top and an upward-sloping support line at the bottom. The price has been making higher lows, showing that buyers are gradually gaining strength, while sellers are being squeezed at the resistance level.
Bajaj Finance continues to be one of India’s leading financial services companies , delivering consistent growth in revenue and profitability. Here's a quick look at the key financials from the December 2024 , September 2024 , and December 2023 quarters:
Sales :
Dec 2024 : ₹18,035 crore ( YoY Growth: 27% )
Sep 2024 : ₹17,091 crore
Dec 2023 : ₹14,164 crore
EBIDT :
Dec 2024 : ₹12,344 crore ( YoY Growth: 24% )
Sep 2024 : ₹11,753 crore
Dec 2023 : ₹9,934 crore
Net Profit :
Dec 2024 : ₹4,308 crore ( YoY Growth: 17% )
Sep 2024 : ₹4,014 crore
Dec 2023 : ₹3,639 crore
Earnings Per Share (EPS) :
Dec 2024 : ₹68.60 ( YoY Growth: 17% )
Sep 2024 : ₹64.62
Dec 2023 : ₹58.88
These solid figures show Bajaj Finance’s strength and its growth trajectory across key financial metrics.
I feel that fundamentally , Bajaj Finance is strong with 27% YoY sales growth and 17% YoY net profit growth , and technically , the Ascending Triangle Pattern on the chart shows a potential breakout, indicating the stock is ready for a big move in the coming months.
Disclaimer: This analysis is for educational purposes only. Please trade responsibly and consult a financial advisor before making any decisions.
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