Bajaj finance on daily chart is making falling wedge and also trading above its key moving averages like 100 and 200. Its also broke 20 DMA on friday but still trading just below its 50 DMA. From the chart is it clear that there is a bottom formation going on since last few trading session. Stock has sustained itself well making higher highs on daily chart.
All these signs indicate bullishness in stock in coming trading sessions but to confirm it should give breakout from the wedge and also break 50 DMA and should sustain above it for next few trading sessions.
Traders can buy this stock on CMP or till the level of 845 (if it corrects)
till the target of 900 in short term or 950 in medium to long term.
Stop loss at 830 recommended.
CMP on friday was 861
