Bajaj Finserv Limited Stock Forecast

Bajaj Finserv Limited stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 02, 2024)

BAJAJFINSV.BO Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 1.36%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bajaj Finserv Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹1,618.71 and ₹1,617.32. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Thursday, February 29, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Bajaj Finserv Limited stock

Bajaj Finserv Limited finds support from accumulated volume at ₹1,614.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹23.65 (1.47%) between high and low. For the last week, the stock has had daily average volatility of 2.63%.

Our recommended stop-loss: ₹1,520.01 (-5.94%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (BAJAJFINSV.BO) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Bajaj Finserv Limited to open at ₹1,620.78, and during the day (based on 14 day Average True Range), to move between ₹1,577.46 and ₹1,654.54, which gives a possible trading interval of +/-₹38.54 (+/-2.38%) up or down from last closing price. If Bajaj Finserv Limited takes out the full calculated possible swing range there will be an estimated 4.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹1,616.60 (0.04%) than the support at ₹1,614.50 (0.09%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Bajaj Finserv Limited stock A Buy?

Bajaj Finserv Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.664 Hold/Accumulate Downgraded

Predicted Opening Price for Bajaj Finserv Limited of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.