Bajaj Finance share price rose to record highs of Rs 9,089 on Friday, extending its strong uptrend that traces back three months. The stock has been goin against the grain by staying on the upside while the wider Indian equities market nosedived. Bajaj (NSE: BAJFINANCE) gained 6.2% in the last five trading sessions and is up by 30.7% year-to-date.
The contrarian trajectory by BAJFINANCE price has resulted in a strong bullish sentiment that adds fuel to its strong fundamentals. The latest rise was triggered by a move to nominate Rajeev Jain for the position of Executive Director and Anup Kumar Saha as the Managing Director. The two will serve as board members of Bajaj Finserv and could commence their roles starting April 1 2025 if shareholders approve their nomination.
Jain and Saha each have more than 30 years of experience in the financial services industry and are credited with instituting transformative moves that have helped grow the company’s fortunes. Therefore, their elevation is seen as a a step in the right direction for the company’s future growth.
The Average Directional Index (ADX) indicator reading is at 27 on Bajaj Finance share price daily chart. That affirms a strong uptrend that adds credence to the likely continuation of its uptrend.
Bajaj Finance share price pivots at Rs 8,836 and action above that level will favour the buyers to stay in control. The stock will likely meet the first resistance at Rs 8,996. Breaking above that level will strengthen the upward momentum and could potentially test the next barrier at Rs 9,200.
On the other hand , the momentum could shift to the downside if the price crosses below Rs 8,836. That will likely see the first support come at Rs 8,617. The upside narrative will be invalid if the price breaks below that level. Meanwhile, the resulting momentum could send BAJFINANCE lower to test Rs 8,412.
This post was last modified on Mar 21, 2025, 10:43 GMT 10:43