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Thursday, October 21, 2010

Bajaj Finance Finds Short term Price Channel Support


Bajaj Finance stock on NSE fell below its long term support line 4 days ago, but has found support on the horizontal line.  I have talked about all the lines in my previous posts on Bajaj Finance, pl refer to them for this thread of discussion.

We will wait and watch before taking any position, but it does seems like the stock will fall further based on the negative candlestick formations and some other indicators.



Chart Source: www.moneycontrol.com

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