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⭐️ Ultra Equity Advice #114 | Buy | Expected Profit 5-7% | Arijit Banerjee

OUR RECOMMENDATION

  Buy    BAJAJ FINANCE  

CP#4721.75
IdeaBUY
Buy Range4660 – 4720
Target4930 – 5000
StopLoss*4540
Duration10 – 12 Trading Sessions
Potential Returns^5 – 7%
CP#IdeaBuy RangeTargetStopLoss*DurationPotential Returns^
4721.75BUY4660 – 47204930 – 5000454010 – 12 Trading Sessions5 – 7%

# CP – closing price on Feb 10, 2020
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 4826.
^ Potential returns are calculated based on the median of buy range.

COMPANY OVERVIEW

Bajaj Finance Ltd is one of the non-banking Financial Corporation in India. The company deals in Consumer Durable Loans, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Home loans, Credit Cards, Motor Loans, Construction Equipment Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits and Advisory Services. Consolidated Net Profit of Bajaj Finance Limited is increased by 52.34 per cent Y-o-Y to Rs. 1614.11 crore.

Stock Data
NSE CodeBAJAJFINANCE
Sectoral IndexFinancial Services
52W High4734
52W Low2506
Face Value2

TECHNICAL OBSERVATIONS (WEEKLY)

  • The upward rangebound move of the last one year has resulted into a formation of a ‘Wedge’ pattern on the weekly chart.
  • Stock Price recently make Breakout above the pattern showing further bullishness.
Bajaj Finance Technical Analysis - Weekly Chart
Bajaj Finance Technical Analysis - Weekly Chart

TECHNICAL OBSERVATIONS (DAILY)

  • Higher Tops and Higher Bottoms at Daily Charts.
  • Last few days stock is trading above the 15 days MA and recent closing near the Upper Bollinger Band showing confidence of my view.
  • Overall a positive chart and momentum pattern indicating an opportunity for a BUY trade.
Bajaj Finance Technical Analysis - Daily Chart
Bajaj Finance Technical Analysis - Daily Chart

LIVE UPDATE - POSITION & ACTIVITIES

Position: Long BAJFINANCE at ₹ 4740 by GoodluckCapital on TradingView

Position: Long BAJFINANCE at ₹ 4740 by GoodluckCapital on TradingView

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MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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