📊 Market Overview
Stock: Bajaj Finserv Ltd
Exchange: NSE
Current Price: ₹1,768.95 (+57.35, +3.35%)
Analysis Period: Past 1 year, with focus on the last 6 months
🎯 Key Technical Analysis
💫 Price Action Dynamics
- General Trend (Past Year): The stock traded sideways for the majority of the year but recently showed a bullish breakout pattern.
- Key Observations (6 Months):
- Formed a bottom around ₹1,450 in early November 2024 and has since rallied with higher highs and higher lows.
- Strong move above ₹1,700 (psychological resistance) suggests a continuation of the breakout.
- Last two trading sessions indicate increasing momentum.
- Significant Levels:
- Support: ₹1,700 (recent breakout level)
- Resistance: ₹1,800-₹1,850 (near-term target zone)
📈 Technical Indicators Breakdown
- RSI (14):
- Current Reading: 62.64 (Bullish zone)
- Trend: RSI has risen from oversold territory near 30 in November 2024 to bullish levels above 50.
- Interpretation: Momentum is strengthening as the RSI approaches overbought conditions.
- DMI (Directional Movement Index):
- DI+: 30.19 (Strong bullish signal)
- DI-: 24.56
- ADX: 15.24 (Low, suggesting trend strength is still developing.)
- Trend: DI+ above DI- indicates bulls are in control, but further ADX confirmation is needed for a defined uptrend.
📊 Volume Analysis
- Current Volume: 2.44M (significantly higher than consolidation period averages).
- Observation: Recent breakout moves have been supported by strong volume, indicating robust buying interest.
💪 Technical Strength Assessment
| Metric | Score (/10) |
|---|---|
| Trend Strength | 7 |
| Momentum | 9 |
| Volume Support | 8 |
| Overall Technical Score | 8 |
⚠️ Risk Analysis
- A drop below ₹1,700 could invalidate the bullish breakout and invite renewed selling pressure.
- Low ADX levels suggest the uptrend may still lack strong conviction and requires further development.
Disclaimer
This analysis is for informational purposes only and does not constitute financial advice. Trading in financial markets involves substantial risk, and you should consult with a qualified advisor before making any trading decisions.