After a highly anticipated IPO, Bajaj Housing Finance Ltd has seen a rollercoaster in its stock price. The initial surge post-IPO was met with heavy buying, thrusting the stock to highs of ₹181.54. However, recent trading sessions tell the opposite, with the stock now hovering around ₹152.92, marking a 0.74% decline for the day.
Current Price:₹152.92
Daily High:₹156.80
Daily Low:₹152.55
Resistance Levels:₹165.81 and ₹181.54
Support Levels:₹146.13 and ₹152.92
The stock has faced some turbulence after its initial IPO momentum cooled off. This could be the market recalibrating its excitement after the initial euphoria, and we should track these levels to see where the stock finds its balance.
Bajaj Housing has a key support level at **₹146.13**. This could be a significant area where buyers step in to defend the stock. If it holds, we may see a bounce from this zone, giving traders some hope for recovery. On the flip side, resistance is positioned at **₹165.81**, with further hurdles at ₹181.54. For the bulls to regain control, these resistance levels need to be cleared.
The stock’s recent retracement suggests that the market is digesting the IPO hype and recalibrating expectations. The initial excitement over the company’s market entry boosted prices, but investors are now reassessing its future potential. If you missed out on the IPO surge, this pullback could offer an entry opportunity. However, patience is key as the stock looks to find its footing.
As mentioned in my previous article covering the Bajaj Housing Finance Ltd IPO, I’ll continue tracking the stock closely. Given the volatility surrounding newly listed stocks, it’s important to stay updated. Expect further insights and analysis in the coming weeks as we see how the stock performs after its initial market debut.
This post was last modified on Oct 02, 2024, 11:53 BST 11:53