Currency Grow (CA & SEBI Reg IA Omkar Bhutada) ยท 14th Sep
Bajaj Finserv: Range Breakout with Fresh Upside Momentum ๐๐ฅ
BAJAJFINSV
After being stuck in a 5-month consolidation box (โน1,920 โ โน2,080), Bajaj Finserv has finally given a breakout above the upper band with strong follow-through.
๐น Technical Structure
Range Breakout: Price has broken above the โน2,080 resistance level with strong green candles.
Volume Confirmation: Volumes are picking up compared to the past weeks, indicating accumulation.
Support Zone: The previous range top โน2,050โโน2,080 will now act as strong support.
Next Levels: Immediate upside targets seen at โน2,180 โ โน2,250, with further extension possible if momentum sustains.
Wave Structure: The sideways consolidation looks like a Wave 4 correction, with the breakout potentially being the start of Wave 5 rally.
๐น Fundamentals
Diversified Financials Play: Exposure to lending (Bajaj Finance), insurance, and wealth management โ a complete financial powerhouse.
Strong Growth Outlook: Consistent earnings growth driven by Bajaj Finance subsidiary.
Digital Push: Expanding digital ecosystem adds long-term scalability.
Healthy Balance Sheet: Strong capital adequacy and diversified revenue streams reduce risk.
โ Conclusion
Bajaj Finserv has broken out of a long consolidation, supported by volume and strong fundamentals. As long as it holds โน2,050โ2,080, the stock looks poised for โน2,180โโน2,250 in the short term, with further upside possible.