June 20, 2018 / 6:09 AM / 5 months ago

BUZZ-India's Bajaj Finance hits record high; technicals suggest more upside

** India’s largest consumer finance company by market-cap, Bajaj Finance Ltd, rises as much as 1.39 pct to a record of 2,302.1 rupees

** Stock breaks above a resistance at 2,268.5 rupees, the 61.8 pct Fibonacci projection level of the uptrend from Dec 22, 2016 low to Sep 9, 2017 high reut.rs/2K1FISA

** Breakout suggests that stock may now move towards the next resistance at 2,447.4 rupees, the 76.4 pct projection level

** Price volume trend, also at a record high, supports the price move

** Trend Intensity (TI) indicator rises to 33, suggests stock is in a strong uptrend

** MACD is positive and above its signal line

** With 29.25 pct gains this year as of Tuesday’s close, Bajaj Finance is the third biggest pct gainer among NSE Index companies; Tech Mahindra and TCS, up 38 pct and 35 pct, are the top gainers

Reporting by Gaurav Dogra

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