Bajaj Finserv Limited Stock Forecast
Bajaj Finserv Limited stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The Bajaj Finserv Limited stock price gained 0.734% on the last trading day (Friday, 3rd May 2024), rising from ₹1,615.45 to ₹1,627.30. During the last trading day the stock fluctuated 6.61% from a day low at ₹1,618.00 to a day high of ₹1,725.00. The price has risen in 6 of the last 10 days and is up by 0.51% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately ₹8.50 billion.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹1,606.60 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.18% during the next 3 months and, with a 90% probability hold a price between ₹1,673.74 and ₹1,799.92 at the end of this 3-month period.
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BAJAJFINSV.NS Signals & Forecast
The Bajaj Finserv Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹1,617.33 and ₹1,626.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.10%. 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. 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.
Golden Star
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 ₹1,614.90 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 ₹107.00 (6.61%) between high and low. For the last week, the stock has had daily average volatility of 2.35%.
Our recommended stop-loss: ₹1,531.57 (-5.88%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (BAJAJFINSV.NS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Bajaj Finserv Limited to open at ₹1,656.77, and during the day (based on 14 day Average True Range), to move between ₹1,587.72 and ₹1,666.88, which gives a possible trading interval of +/-₹39.58 (+/-2.43%) up or down from last closing price. If Bajaj Finserv Limited takes out the full calculated possible swing range there will be an estimated 4.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,614.90 (0.76%) than the resistance at ₹1,643.85 (1.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.627 Buy Candidate Upgraded
Predicted Opening Price for Bajaj Finserv Limited of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
₹1,656.77 ( 1.81%) | ₹1,627.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAJAJFINSV.NS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,763.77 | 8.39 % | |
R2 | 1,722.89 | 5.87 % | ||
R1 | 1,697.64 | 4.32 % | ||
Current price: | 1,627.30 | |||
Support | S1 | 1,615.89 | -0.701 % | |
S2 | 1,590.64 | -2.25 % | ||
S3 | 1,549.77 | -4.76 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,677.95 | 3.11 % | |
R2 | 1,656.55 | 1.80 % | ||
R1 | 1,643.85 | 1.02 % | ||
Current price | 1,627.30 | |||
Support | S1 | 1,614.90 | -0.762% | |
S2 | 1,597.35 | -1.84% | ||
S3 | 1,593.90 | -2.05% |
BAJAJFINSV Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 30, 2023 | Jun 30, 2023 | Jun 30, 2023 | ₹0.80 | 0.0524% |
2 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | ₹0.80 | 0.0525% |
3 | Jun 30, 2022 | Jun 30, 2022 | Jun 30, 2022 | ₹0.400 | 0.0366% |
4 | Jul 08, 2021 | Jul 08, 2021 | Jul 08, 2021 | ₹0.300 | 0.0243% |
5 | Feb 21, 2020 | Mar 03, 2020 | Mar 09, 2020 | ₹0.500 | 0.0609% |
FAQ
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