The Bajaj and HDFC twins can rally up to 8 per cent provided the stocks manage to sustain above the following key technical levels on the daily and weekly charts.
HDFC group | Bajaj Group | Trading strategies
Avdhut Bagkar |
Last Updated at May 31, 2022 11:55 IST
Among the financial group stocks, the so-called Bajaj twins and HDFC twins, have been in limelight both for the stock performance and news related developments. The HDFC twins in particular – HDFC and HDFC Bank – witnessed an adverse market reaction after the financial majors announced the amalgamation of HDFC with HDFC Bank. The HDFC twins tanked over 20 per cent in the following trading sessions and were one of the chief laggards in the market fall.
Further, shares of Bajaj Finserv and Bajaj Finance too plunged 33 per cent and 23 per each from their respective highs touched in November, 2021 amid worries on the earnings front. In fact, Bajaj Finance went on to register a fresh 52-week low, thus losing out on the the bullishness it built over the last 2-3 years.
Meanwhile, among the Bajaj pack, shares of Bajaj Auto shares has shown expectional price action and seems to be on track to hit a new historic peak.
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First Published: Tue, May 31 2022. 11:55 IST