Bajaj Finserv is currently trading at a price approximately 14 times of what it was in 2014, with potential to rise much more. Bajaj Finserv is one such stock that we recommended in our Multibagger research report based on various studies like Time cycles, Elliott wave, indicators.
We recommended this stock when it was quoting near the zone of 5500 and was successfully able to catch the upmove. See yourself how we were able to catch the upmove even before it began.
Below is the chart showing detailed analysis published in our research report –“The Financial Waves Multibagger Update”
Bajaj Finserv Ltd. weekly chart : ( Anticipated as on 22nd May 2018)
Bajaj Finserv Ltd. weekly chart : ( Happened as on 17th May 2019)
(Following research is taken from Multibagger report published on 22nd May 2018)
Multibagger stock recommendation: Bajaj Finserv
Buy Price – Buy in staggered fashion from current levels and dips towards 5500.
Time Horizon – 1 – 2 years
Investment – 5% of capital
Target price – 8000 levels
Stop loss – 4000
Anticipated as on 30thOctober 2018-Bajaj Finserv is in the Finance – Investments sector. The current market capitalization stands at Rs. 90,770.66 Crore. It has given exponential returns since the beginning of 2014. It is currently trading at a price approximately 10 times of what it was in 2014, with potential to rise much more. The dividend yield of the stock is 35%.
Elliott wave perspective: As shown in Weekly chart of Bajaj Finserv wave (2) has ended near the lows of 560. Currently, wave 3 of (3) is on-going, which is the most powerful wave. This keeps the outlook for the stock very promising.
165 Week Time Cycle: We have also approaching the Time cycle low on 25th May; this will place important intermediate lows at the low made that week.
One can start buying this stock at current levels and add on dips towards 5500 and can maintain stop around 4000 price levels which is approximately 38.2%.
Conservative target for this stock can be maintained at 8000 on the upside which is also the upper trendline resistance.
Happened as on 17th May 2019 – The stock has shown an impulse rise and has continued to rise higher forming newer highs with every consequent sessions. On 17th May 2019 prices hit the target of 8000 levels and moved further higher and hit a new lifetime high near 8335 levels.
The above analysis clearly shows how one can identify the stocks from positional investment perspective just with the help of Elliott wave, time cycles and other basic indicators.
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