Whipsaw effect on Bajaj Finserv Ltd

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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 price which has been shown in the graph and the fall in price would have been a price correction measures of the market movements.
 
 

The Ichimoku cloud indicator also portrays a long lasting bullish trend as the formation of the green cloud started from November and is still being continued. The growth of the company’s share price has been affected by market sentiments and it will continue to grow after the price correction movements have been take place.



Although the previous trading session’s candlestick has been bearish, the price movements have been consistent and the tail of the candlestick can be noticed for price movements. After a decline in the price, the company’s stock has succeeded to close at a price higher than its low price, forming a tail in the candlestick.

Comments

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    Bajaj Finserv Limited
    Bajaj Healthcare Limited
    Bajaj Hindusthan Sugar Limited
    Bajaj Holdings & Investment Limited

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