Stock name: Bajaj finance

Pattern: Breakout

Time frame: Daily

Observation:

The stock has been consolidating for a long time and in a wide range and has today broken out of a smaller range. The stock is close to another resistance of the past and as per technical analysis, once a resistance is broken, it then acts a support.

You may add this to your watchlist to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

1) Honda cars India YoY sales decline 35% in June: Autox

2) NMDC steel limited commences trial production of HRC - Steelorbis

3) Quick heal technologies announces Vishal Salvi as new CEO with immediate effect