Bajaj Housing Finance (NSE: BAJHF) is feeling the heat as its share price takes a sharp dive, dropping nearly 10% in today’s session. After breaking below the 146.13 INR support, the stock has now hit a critical level at 136 INR. This steep decline has investors on edge, wondering if the stock has more room to fall or if it’s due for a recovery bounce.
On the technical front, Bajaj Housing Finance has swiftly sliced through key levels, with 165.81 INR and 146.13 INR now acting as resistance barriers. If the stock fails to hold the 136 INR support, the next major level to watch would be the 125 INR zone, which could become a fresh target for bearish traders.
In a more optimistic scenario, a rebound from 136 INR could see the stock attempting to retest 146.13 INR, a level that once provided solid support. However, with selling pressure dominating, any recovery might be short-lived unless we see a significant shift in market sentiment.
The aggressive sell-off in Bajaj Housing Finance reflects broader market jitters, compounded by sector-specific concerns. As the stock faces a challenging environment, investors are looking for any signs of stabilization. For now, all eyes remain on the 136 INR level—a break below this could signal further downside, while a hold might offer a glimmer of hope for those betting on a recovery.
Traders should keep close tabs on upcoming market catalysts and earnings releases, as these could provide the momentum needed to either halt the slide or deepen the downturn. The road ahead for Bajaj Housing Finance looks uncertain, with the battle at 136 INR set to define its next move.
This post was last modified on Oct 07, 2024, 14:53 BST 14:53