Showing posts from April, 2020

Whipsaw effect on Bajaj Finserv Ltd

Bajaj Finserv is one of the diversified and well established Non-banking Financial Corporation in India. The company’s stock reached its all-time high price of Rs.9894.25 during the end of January indicating the bullish trend of the stock in the market which was disturbed by two days bearish trend resulting in the fall of price. Even though the bullish trend continued after a change in trend, the prices of the stock were fluctuating signifying the mixed market sentiments. The following graph shows the bullish trend in the market and there is a continuation of the trend despite of the decline in the share price. The event of decline in the share price would have occurred due to the sale of 23,500 shares that accounts to Rs. 222 mn by the promoter of the company. This was the biggest sale made by an insider individual in the last twelve months which has triggered the market sentiments and also resulted in the fall in price. The Parabolic SAR also signifies an upward trend in the share