Let Look at Bajaj Finserv:
Bajaj Finserv is looking extremely weak on charts as crucial important supports of 7770--7700 is negatively breached and not sustained and since then we have seen a negative trend to persist on the stock.
RSI of 27.31 also indicate that bears are aggressively dominating the stock as stock enters into oversold territory and one may wait to enter in stock unless a consolidation phase is seen in the stock
MACD of negative 99 and decreasing also suggest that stock is in downward trend and we may continue to see bearish trend for few weeks.
200 DMA of 6975 should act as an important support for all long position for all existing long positions as below this level we may see more downside panic.
Immediate Support 6795--6600
Immediate Resistance 7315--7440
MORE WILL UPDATE SOON!!
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