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Bajaj Finserv Ltd's shares gained as much as 2.49 per cent to Rs 6,138.35, highest since September 27.
The stock has broken above a resistance at Rs 6,077.5, the 50 per cent Fibonacci retracement level of the downtrend from August 16 high to October 24 low. The breakout suggests in the near term the stock may test the next resistance at Rs 6,342.4, the 61.8 per cent retracement level.
The stock's 20-day exponential moving average (EMA) has cut above its 50-day EMA, a bullish sign. MACD is positive and above its signal line, seen favourable. Bajaj Finserve stock had gone up 14.5 per cent this year as of last close, compared with the broader NSE Index's 1.96 per cent gains in the same period.
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