Bajaj Finserv Limited Stock Forecast

Bajaj Finserv Limited stock price ended at ₹1,629.45 on Monday, after gaining 0.645%.
(Updated on Apr 22, 2024)

BAJAJFINSV.NS Signals & Forecast

The Bajaj Finserv Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹1,646.68. On a fall, the stock will find some support from the long-term average at approximately ₹1,618.87. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.23%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 ₹1,593.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹30.50 between high and low, or 1.89%. For the last week, the stock has had daily average volatility of 2.58%.

Our recommended stop-loss: ₹1,551.94 (-4.76%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (BAJAJFINSV.NS) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Bajaj Finserv Limited to open at ₹1,631.65, and during the day (based on 14 day Average True Range), to move between ₹1,594.73 and ₹1,664.17, which gives a possible trading interval of +/-₹34.72 (+/-2.13%) up or down from last closing price. If Bajaj Finserv Limited takes out the full calculated possible swing range there will be an estimated 4.26% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹1,630.15 (0.04%) than the support at ₹1,593.90 (2.18%), 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?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Bajaj Finserv Limited stock to perform well in the short-term.

Current score: 3.572 Buy Candidate Unchanged

Predicted Opening Price for Bajaj Finserv Limited of Tuesday, April 23, 2024

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