Trade Idea of The Day - Bajaj Finserv Ltd Target Rs. 35 - Religare Broking Ltd
Bajaj Finserv Ltd
BUY 29 SEP 1900 CALL Entry Range 16 – 19 Target 35 Stop Loss 9
Rationale
• BAJAJ FINSERV continues to exhibit a bearish setup, with the stock prices are holding below the key moving averages of 20-DEMA and 50-DEMA, indicating persistent selling pressure and weakness at higher levels. ]
• As long as the prices sustain below the 1,950 zone (50-DEMA), it has strengthened the negative structure, while failure to reclaim this level could keep the stock under pressure with the immediate downside momentum towards the 1,880-1,860.
• The momentum indicators remain weak, with RSI hovering below the 40 mark and trending lower, highlighting deteriorating buying interest. The MACD also remains in negative territory, supporting the ongoing bearish bias
• On the downside, fresh break below 1900 mark could extend the decline towards the immediate support zone of 1,860, followed by 1,830. A sell-on-rise approach remains preferable unless the stock decisively reclaims 1,980.
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SEBI Registration number is INZ00017433
