Bajaj Finance rises up to 5% and ends four-day fall

Bajaj Finance Limited shares rose as much as 5% intraday on 5 October and ended a four-day losing streak. The daily chart shows support at Rs 930. Bajaj Finance Limited [

] shares rose as much as 5% intraday on 5 October. The move ended a four-day losing streak for the stock. The stock opened at Rs 962.55, touched a high of Rs 995.80 and settled at Rs 970.00. The 5% gain is measured from the Rs 948.30 low seen on 1 October to the day's high. The close of Rs 970.00 is below the day's high of Rs 995.80, so part of the early strength faded. A rebound after four weak sessions can lose steam if buyers do not follow through. The stock has also been trading lower since the August peak, so one up day does not show a reversal. Rs 930 is the immediate support. A fall below it would put lower levels in view. On the upside, Rs 1,045 is the resistance level for the near term. A move above Rs 1,045 would bring a stronger recovery into focus. Watch these two levels in the coming sessions. Neutral stance while price trades between Rs 930 and Rs 1,045. Disclaimer: I do not hold any position in this. This content is for informational purposes only and is not a recommendation to buy or sell. Investments in securities are subject to market risks. Please read all related documents carefully before investing.