Bajaj Finserv spurts over 12% in six days

17 Aug 2022 , 11:33 AM

Shares of Bajaj Finserv surged 12.88% in six trading sessions from its recent closing low of Rs 15,088.95 on 5 August 2022. In the past one year, the stock has rallied 15.49% while the benchmark Sensex climbed 7.87% during the same period. On the technical front, the stocks daily RSI (relative strength index) stood at 88.442. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 12,846.71, 13,719.08 and 15227.94, respectively. These levels will act as crucial support zones in near term. Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. The companys consolidated net profit rose 57% to Rs 1,309 crore on a 14% rise in total income to Rs 15,888 crore in Q1 FY23 over Q1 FY22. Powered by Capital Market – Live News