BAJAJ FINANCE Elliott Wave Technical Analysis – BAJFINANCE (1D Chart)
BAJFINANCE Elliott Wave Technical Analysis
Function: Larger Degree Trend Higher (Intermediate Degree Orange)
Mode: Motive
Structure: Impulse
Position: Minor Wave 3 Grey
Details: Minor Wave 3 Grey is advancing higher, targeting levels beyond 6460.
Invalidation Point: 6460
BAJAJ FINANCE Daily Chart Technical Analysis & Elliott Wave Projections
The BAJAJ FINANCE (BAJFINANCE) daily chart suggests a strong bullish momentum, pushing towards the 9000–9200 zone as the stock completes its larger degree uptrend (Intermediate Wave (5) Orange).
- A potential Minor Wave 4 could emerge as an expanded flat or a triangle before the final bullish wave unfolds.
- Previously, Intermediate Wave (4) concluded around 6460 in November 2024, following a multi-year triangle correction that began in March 2023.
- The ongoing Intermediate Wave (5) is unfolding as an impulsive structure, with one more bullish leg anticipated before the cycle completes.
BAJAJ FINANCE Elliott Wave Technical Analysis – BAJFINANCE (4H Chart)
BAJFINANCE Elliott Wave Technical Analysis
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Function: Larger Degree Trend Higher (Intermediate Degree Orange)
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Mode: Motive
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Structure: Impulse
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Position: Minor Wave 3 Grey
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Details: Minor Wave 3 Grey is advancing higher against 6460, with a potential target of 8665 before a Wave 4 consolidation.
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Invalidation Point: 6460
BAJAJ FINANCE 4H Chart Technical Analysis & Elliott Wave Outlook
The 4H chart provides a detailed breakdown of the sub-waves within Intermediate Wave (5) Orange, which commenced after Wave (4) completed as a triangle around 6460 in November 2024.
- Wave (5) is progressing as an impulse, with a high probability of a bullish breakout above 9000 in the near term.
- Wave Structure So Far:
- Minor Wave 1: Formed as a leading diagonal, ending at 7600.
- Wave 2: A sharp correction, retracing to 7120.
- Wave 3: Surged higher, reaching 8665.
- Wave 4 (Potential Formation): Expected as a triangle consolidation before the final upward push.
A crucial support level remains at 7600—as long as prices hold above this, bulls can maintain the impulsive uptrend.
Technical Analyst: Harsh Japee
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Conclusion
BAJAJ FINANCE remains firmly bullish, advancing within Minor Wave 3 of Intermediate Wave (5), with 9000+ levels as the next major resistance zone. A potential short-term consolidation (Wave 4) may occur, but the larger trend remains upward in the coming sessions.