Rs 115 or Rs 150? Bajaj Housing shares up 6% in 2 days; what analysts say

Shares of Bajaj Housing Ltd continued to rise on Wednesday for the second consecutive trading session. The stock rose 3.36 per cent to close at Rs 121.60. At this price, it has moved up 5.87 per cent in two days. The counter logged heavy trading volume on BSE today as around 27.39 lakh shares changed hands. The figure was higher than the two-week average volume of 4.83 lakh crore. Turnover on the counter came at Rs 33.65 crore, commanding a market capitalisation of 1,01,270.26 crore.

On the technical setup, support for Bajaj Housing's stock could be seen in the 118-155 range. That said, a few analysts suggested that a decisive close above Rs 125 can trigger a further upside of up to Rs 152 level.

Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi, said, "Support will be at Rs 118 and resistance at Rs 125. A decisive move above Rs 125 level may trigger a further upside towards Rs 130. The expected trading range will be between Rs 118 and Rs in 130 the short term."

Sebi-registered research analyst AR Ramachandran said, "Bajaj Housing finance stock price is bullish on daily charts with strong support at Rs 115. A daily close above the resistance of Rs 125 could lead to an upside target of Rs 143 in the near term."

Ameya Ranadive, Chartered Market Technician, CFTe, Sr Technical Analyst at StoxBox, said, "The stock has approached its crucial resistance zone of Rs 125. This level will be a key test for further upside, as sustained price action above it could signal continued strength in the stock." For a confirmed bullish trend, he underscored that Bajaj Housing needs to hold above Rs 125 for a few consecutive sessions.

"A decisive breakout beyond this level could pave the way for a move towards Rs 147–152 in the medium term. Additionally, increasing trading volumes support the ongoing momentum, reflecting renewed investor confidence. However, if the stock fails to sustain above Rs 125 and slips below Rs 115, the current bullish outlook will be negated, warranting a cautious approach," Ranadive added.

The counter traded higher than the 5-day, 10-, 20-, 30-day and 50-day simple moving averages (SMAs) but lower than the 100-day SMA. Its 14-day relative strength index (RSI) came at 54.41. 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.