Bajaj Auto- Long Term Breakout(Investment Option)

Bajaj Auto is one of the renowned names in 2 wheelers segment.
If we look at this chart which is weekly it is showing that it has been in a consolidating phase since last Oct 2017 which is more than 3 years of consolidation. Now it is trying to go out from the consolidation zone. It has tested its resistance already for 4-5 times.
Even in Monthly chart signs of consolidation and breaking out is visible.
Monthly Chart:-
Rectangle marked near resistance is showing that stock is now sticking to higher levels.
look at daily chart as well.
Anything unusual?
I will say yes because price is now not even able to come down 200 ema and sticking at higher levels.
Finally the Target part. Target of the consolidation breakout is usually the difference of the consolidation.

Don't forget to check the volumes which is being generated even at higher levels. What was the last time when we saw these kind of unusual volumes? (I have marked already).

Keep an folks. Happy Trading and Cheers.


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