- Summary:
- Bajaj Housing share price trades near record lows and the current market fundamentals do not favour the upside.
Bajaj Housing share price extended its decline for the second successive session on Monday, trading at 108.45 at the time of writing after declining by 1.1%. The stock is down by more than 14% year-to-date and has lost 6.3% of its value in the last five sessions. That points to a strong downward momentum inside less than a month after releasing its earnings report for the quarter ending December 2024.
Bajaj Housing Share Price Downtrend Likely to Continue
The Reserve Bank of India (RBI) recently reduced interest rates by 25 basis points to 6.25%, with implications on net interest earnings. Bajaj Housing share price will likely feel the downward pressure brought by the decision. The company missed analysts’ earnings forecasts in the last quarter, and a decline in net interest earnings raises the likelihood of another miss.
Bajaj Housing share price is currently 42% below the all-time high of Rs 188.45 set in the first week of its listing in September 2024. In addition, it trades below the 20,50 and 100 SMA levels, underlining a strong bearish momentum. The Average Directional Index (ADX) indicator reading on the daily chart is at 62, affirming a strong downward trend. The stock’s Volume Weighted Moving Average (VWMA) is at Rs 113.15, and a return to that day could signal an imminent reversal.
Bajaj Housing Share Price Prediction
The momentum on Bajaj Housing share price calls for an extended decline below the pivot level at Rs 110.00. The stock’s move will likely be towards the first support at 108.00. Breaking below that level will strengthen the downward momentum and potentially test the second support at Rs 106.20.
Conversely, the Bajaj Housing (BSE: BAJAJHFL) momentum will shift to the upside if the price goes above Rs 110.00. The first resistance will likely be at 111.85, and breaking above that level will invalidate the upside narrative. Also, an extended control by the buyers could test the second resistance at Rs 114.00.
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