Good to see Bajaj Finserv making breakout moves: Deepak Mohoni
It is good to see a lot of stocks making these kind of breakout moves like in Bajaj Finserv.
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| Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about Bajaj Finserv.
Give us a chart check on Bajaj Finserv?
If Bajaj Finserv closes like the way it is currently, it will be having its best closing in two or three month and if we get more and more stocks which start closing at three-month highs, then there is an extremely good chance that the bear market, which began in Diwali, has actually ended.
That gets confirmed anyway when the Nifty consolidates or remain stable above 5600-5700 those kind of levels. It will be then at a 2-3 month high itself and it will be above its 200 day moving average. So that’s what the market is trying to do. Next few days should tell us whether it succeeds but it is indeed very good to see a lot of stocks making these kind of breakout moves like in Bajaj Finserv. So the emergence of these stocks is a positive sign.a
Give us a chart check on Bajaj Finserv?
If Bajaj Finserv closes like the way it is currently, it will be having its best closing in two or three month and if we get more and more stocks which start closing at three-month highs, then there is an extremely good chance that the bear market, which began in Diwali, has actually ended.
That gets confirmed anyway when the Nifty consolidates or remain stable above 5600-5700 those kind of levels. It will be then at a 2-3 month high itself and it will be above its 200 day moving average. So that’s what the market is trying to do. Next few days should tell us whether it succeeds but it is indeed very good to see a lot of stocks making these kind of breakout moves like in Bajaj Finserv. So the emergence of these stocks is a positive sign.a
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