Business Standard

Bajaj twins hit new lows every month since November 2022; weakness persists

Every reversal in Bajaj twins is expected to face sell-off, until key levels are not conquered, with aggressive volumes.

Bajaj Finance
Web Exclusive Premium

Avdhut Bagkar Mumbai
Bajaj Finance and Bajaj Finserv, both Bajaj twins have hit new lows every month since November last year, signalling weakness and accumulation, if any, has been unable to overpass the selling pressure. 

If the current trend persists, both the stocks may enter medium-term bearishness, where they could lose interest of the market participants, effectively negating any potential reversal.

In addition, both Bajaj twins have breached the key 200-day moving average (DMA) and formed “Death Cross”, a bearish pattern indicating that bears shall dominate severely if the counters fail to hold the decline. 

Bajaj Finserv has plunged 23 per cent and

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 23 2023 | 11:39 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com