English EditionEnglish Editionहिन्दीગુજરાતીमराठीবাংলাಕನ್ನಡമലയാളംதமிழ்తెలుగు
| 18 May, 2024, 03:34 PM IST | Today's ePaper
Subscribe
Sign In
6th Anniversary Offer
Search
+
Business News›Markets›Stocks›News›Stock Radar: Down 10% from highs! Why Bajaj Finserv is a long-term pick at current levels
Read. Lead. Succeed. ET Prime - For Members Only
- Sharp Insight-rich, Indepth stories across 20+ sectors
- Access the exclusive Economic Times stories, Editorial and Expert opinion
Synopsis
The stock hit a fresh 52-week high of Rs 1,741 on December 15, 2023, but failed to hold on to the momentum. It slipped below the 50-DMA in February on the daily chart but found some support above the 200-DMA. It is also trading in a 15-year-old Rising Channel pattern on the monthly charts. The recent selloff pushed the stock towards the support zone of the channel. Hence, a technical bounceback could be on the cards.
Bajaj Finserv Ltd, a part of the financial services industry, has fallen over 10% from the recent highs and has taken support above the long-term moving average on the daily chart. This suggests that a possible bounce-back may be on the cards.Medium- to long-term investors can look at accumulating the stock on dips as the chart structure suggests that bulls can make a comeback.The long-term target is placed above 1,900, which will take it
BY
Ksh*tij Anand
ETMarkets.com
3 mins read, Last Updated:
Gift A Story
Share member-only stories with your friends or family and help them read it for free.
Gifting Limit Reached!
Hey , no more stories left for you to gift.
No worries! You will get a limit of 15 stories next month to share with your friends and family.
Gift This Story
Stories Left!
You can gift upto 15 stories in a month.
- FONT SIZE
AbcSmall
AbcMedium
AbcLarge
- SAVE
- COMMENT
Continue reading with one of these options:
Limited Access
Free
Login to get access to some exclusive stories
& personalised newsletters
Login Now
Unlimited Access
Starting @ Rs120/month
Get access to exclusive stories, expert opinions &
in-depth stock reports
Subscribe Now
ET
Uh-oh! This is an exclusive story available for selected readers only.
Worry not. You’re just a step away.
Prime Account Detected!
It seems like you're already an ETPrime member with
Login using your ET Prime credentials to enjoy all member benefits
Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.
To read full story, subscribe to ET Prime
Get Unlimited Access to The Economic Times
₹34 per week
Billed annually at ₹2499 ₹1749
Already a Member? Sign In now
Already a Member? Sign In now
Unlock this story and enjoy all members-only benefits.
'; }); } if(listing) { var h3 = "You tried reading " + listArr.length + " locked stories in the past " + threshold + " days.", h4 = "Become an ET Prime member and don't miss out on these exclusive stories."; var html = '
' + h3 + '
' + h4 + '
- ' + listing + '
'; $('#paidSCWidget').html(html); var callback = $('#paidSCWidget').attr('data-callback'); if(callback && window[callback]) { window[callback](); } customDimension.dimension72 += ' | Shown SYFT no Trial_With Missed Paywalled Articles Collection'; } else { _processNormal() } } }); } else { _processNormal(); } } catch (e) { _processNormal(); } }, function () { _processNormal(); }); //console.log('storyCollectionLoad', $); }
Why ?
Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors
Stock analysis. Market Research. Industry Trends on 4000+ Stocks
Clean experience with
Minimal AdsComment & Engage with ET Prime community Exclusive invites to Virtual Events with Industry Leaders A trusted team of Journalists & Analysts who can best filter signal from noise Get 1 Year Complimentary Subscription of TOI+ worth Rs.799/-