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CA Omkar Bhutada - SEBI Reg IA

14th Sep ยท SEBI-Registered Analyst

Bajaj Finserv: Range Breakout with Fresh Upside Momentum ๐Ÿ“ˆ๐Ÿ”ฅ

BAJAJFINSV
After being stuck in a 5-month consolidation box (โ‚น1,920 โ€“ โ‚น2,080), Bajaj Finserv has finally given a breakout above the upper band with strong follow-through. ๐Ÿ”น Technical Structure Range Breakout: Price has broken above the โ‚น2,080 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 โ‚น2,050โ€“โ‚น2,080 will now act as strong support. Next Levels: Immediate upside targets seen at โ‚น2,180 โ€“ โ‚น2,250, 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. ๐Ÿ”น 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. โœ… Conclusion Bajaj Finserv has broken out of a long consolidation, supported by volume and strong fundamentals. As long as it holds โ‚น2,050โ€“2,080, the stock looks poised for โ‚น2,180โ€“โ‚น2,250 in the short term, with further upside possible.

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