Details:
Asset: Bajaj Auto Ltd (BAJAJ-AUTO)
Breakout Level: 8600 (Support zone post breakout)
Potential Targets: 9360, 10000
Stop Loss: Below 8400
Timeframe: Medium-term (Daily timeframe)
Rationale: After a successful channel breakout, Bajaj Auto has retested and taken support at 8600. The price action suggests renewed buying interest and a continuation of the uptrend.
Market Analysis:
Technical Setup: Strong breakout followed by healthy consolidation and support test.
Sector Outlook: Auto sector is seeing robust demand and export tailwinds, benefiting key players like Bajaj Auto.
Risk Management:
Stop loss placed below 8400 to limit downside in case of failed support.
Timeframe:
Medium-term rally likely toward 9360 and eventually 10000.
Risk-Reward Ratio:
Favorable, with clear support and defined targets.
Look for volume confirmation and bullish candles above 8700 for strong momentum continuation.
Asset: Bajaj Auto Ltd (BAJAJ-AUTO)
Breakout Level: 8600 (Support zone post breakout)
Potential Targets: 9360, 10000
Stop Loss: Below 8400
Timeframe: Medium-term (Daily timeframe)
Rationale: After a successful channel breakout, Bajaj Auto has retested and taken support at 8600. The price action suggests renewed buying interest and a continuation of the uptrend.
Market Analysis:
Technical Setup: Strong breakout followed by healthy consolidation and support test.
Sector Outlook: Auto sector is seeing robust demand and export tailwinds, benefiting key players like Bajaj Auto.
Risk Management:
Stop loss placed below 8400 to limit downside in case of failed support.
Timeframe:
Medium-term rally likely toward 9360 and eventually 10000.
Risk-Reward Ratio:
Favorable, with clear support and defined targets.
Look for volume confirmation and bullish candles above 8700 for strong momentum continuation.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.