JM Financial, Bajaj Finance: SEBI RA Palak Jain Eyes Fresh Highs As Technicals Flash Green

Stocktwits data shows that retail sentiment is also improving, reinforcing the bullish outlook.

Two financial stocks are flashing green on the charts. SEBI-registered analyst Palak Jain is bullish on JM Financial and Bajaj Finance, driven by strong technical indicators. She anticipates a breakout in both these counters. 

Let’s take a look at the rationale behind her recommendations: 

JM Financial

Jain noted that JM Financial’s share price has shown a significant increase from May to July. The stock is currently consolidating between support at ₹150 and resistance at ₹180 levels, with a good volume buildu, indicating the potential for a breakout.

The Directional Movement Index (DMI) also suggests a strong trend. Jain believes that the stock is likely to break out above the resistance level, making it a potential buy.

Data on Stocktwits shows that retail sentiment turned ‘bullish’ a day ago.

JM Financial shares have risen 39% year-to-date (YTD).

Bajaj Finance

Jain observed that Bajaj Finance is forming an ascending triangle pattern, a bullish technical indicator signaling a potential breakout. Additionally, its support level is rising, which shows increasing demand and a potential for the stock to move higher.

She added that a breakout above the resistance level (around ₹970) can lead to a significant price movement.

Data on Stocktwits shows that retail sentiment moved from ‘bearish’ to ‘neutral’ a day ago.

Bajaj Finance shares have risen 41% year-to-date (YTD).

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