Bajaj Finserv (Consolidating above a crucial level)
Bajaj Finserv has tried to break the range of 6150-6000 for quiet a while now but every time it has reversed to go and test its current high (last 3-4 months) (Check in the Daily TF it will give you a better idea) which has led to a channel formation. As the recent past has shown the stock does not spend a lot of time at these levels it has generally moved up.
The current consolidation in the hourly time frame might be an indication of a breakdown or a reversal.
Any side breakout should be a strong one however momentum might be affected due to the news in the market surrounding the Multi Cap Funds.
Keep an Eye.
The current consolidation in the hourly time frame might be an indication of a breakdown or a reversal.
Any side breakout should be a strong one however momentum might be affected due to the news in the market surrounding the Multi Cap Funds.
Keep an Eye.
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