Bajaj Housing shares climb 12% from all-time low level; what's next?

Bajaj Housing Finance shares rose 1.67 per cent to hit a high of Rs 115.35 in Tuesday's trade. At this price, the stock has moved up 11.99 per cent from its record low value of Rs 103, seen on January 28, 2025.

On BSE, around 3.82 lakh shares were last seen changing hands today. The figure was lower than the two-week average volume of 9.60 lakh shares. Turnover on the counter came at Rs 4.37 crore, commanding a market capitalisation (m-cap) of Rs 94,857.59 crore. There were 9.42 lakh buy orders against sell orders of 3.17 lakh shares.

A market expert suggested investors adding Bajaj Housing shares to their portfolio with a medium- to long-term view. "Investors should hold on to Bajaj Housing and consider buying the stock on dips. The counter is currently at the lower end of the price range. Given the company's pedigree and strong business model, one can add this stock from a medium- to long-term view," said Kranthi Bathini, Director of Equity Strategy at WealthMills Securities.

On technical setup, support on the counter could be seen in the Rs 100-111 range. A decisive close above the Rs 120-122 zone is required for further upside potential.

"Bajaj Housing is in a corrective phase with minimal sign of reversal. A breakthrough above the recent swing high of Rs 122 could only trigger positive momentum in the counter. At the same time, the intermediate strong support is placed around the Rs 105-100 zone," said Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One.

"The stock can see Rs 120 level in the near term. Keep stop loss placed at Rs 111," said Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking.

The counter traded higher than the 5-day, 10-day and 30-day simple moving averages (SMAs) but lower than the 20-day, 50-day and 100-day SMAs. The scrip's 14-day relative strength index (RSI) came at 31.20. A level below 30 is defined as oversold while a value above 70 is considered overbought.

Bajaj Housing Finance -- a part of Bajaj Group -- is a non-deposit-taking housing finance company (HFC) registered with the National Housing Bank (NHB). As of December 2024, promoters held an 88.75 per cent stake in the Bajaj Group entity.