Bajaj Finserv (Consolidating above a crucial level)

2020年9月13日

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.