Bajaj Finance has been the talk of the Dalal Street for a long time. However, in this turbulent market, it has witnessed a not so good chart and we may have bad news for its traders.
Daily Chart
The daily chart for Bajaj Finance indicates a movement within the channel, showing a perfect downtrend and marching into the deciding zone.
Monthly Chart
Looking at the weekly scenario (9 March'20 - 16 March'20), the stock tried its best to not break the 61.8% retracement. However, it broke it immediately in the next week (i.e. 16 March' 20 - 23 March'20) and even could not withstand a major support level at ₹2994. Hence, we expect that the stock will further show a downtrend to reach its next support at ₹1912. If this happens, it will further see levels such as ₹1800 as per Fibonacci series (at 161.8%)
Stay tuned for more updates!
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