Stock Radar: Down 10% from highs! Why Bajaj Finserv is a long-term pick at current levels (2024)

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.

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