Published on 27/01/2021 12:03:20 PM | Source: ICICI Direct
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndia
Download Telegram App before Joining the Channel
Bajaj Finserv
Bajaj Finserv (BAFINS): Flag formation signifies continuance of primary up trend…
* The Nifty Financial Services index has taken a breather after November- January sharp up move. We remain constructive on Bajaj Finserv as it has relatively outperformed the BFSI space
* The consolidation in a | 9450- 8500 range after the NovemberDecember sharp rally (| 9450- 5511) has taken shape of a Flag formation. Breakout from Flag formation signifies continuation of primary up trend. We expect the index to resolve out of ongoing consolidation. Hence, it offers a fresh entry opportunity
* Structurally, the elongated up trend followed by shallow price retracement highlights robust price structure as buying demand observed at elevated support base augurs well for the next leg of up move
* In a nutshell, we expect the stock to log a resolute breakout from Flag formation and gradually head towards | 10400 in coming months as it is the implied target of ongoing consolidation (| 9450- 8500), at | 10400
Buy Bajaj Finserv Ltd @ 9100.00-9300.00 TGT 10400 SL 8590.00
To Read Complete Report & Disclaimer Click Here
https://secure.icicidirect.com/Content/StaticData/Disclaimer.html
Above views are of the author and not of the website kindly read disclaimer
Markets rally for third successive session on Wednesday
Outstanding performance by the bulls; Nifty ends around 15250 By Ruchit Jain, Angel Broking
Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 03 March 2021 By Geojit Financial
India's February services sector output rises: PMI