Bajaj Finance stock on NSE had climbed out of resistance on 7-Sep, and has been choppy since.
The earlier resistance is acting as support now, as is visible.
There is another horizontal price channel which has formed since last 2-3 weeks. The diagonal long term support and the upper limit horizontal price channel are about to co-incide in a day or two.
The stock has two options now - Either break its long term line of resistance turned support, or will climb out of its short term horizontal resistance.
If Bajaj Finance breaches long term support, there is another parallel support line way below. If Bajaj Finance breaches the horizontal resistance, it could rise further aided by the support line.
I'll wait n watch next couple of days, and then take a position.
Chart Source: www.moneycontrol.com
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