The stock is taking its time out at the 60 levels on RSI. After a unstoppable rally from August it has moved sideways and have consolidated. As of now he prices are resting on KS/TS support line, if a breakout is not registered within a session or two then some serious momentum loss may be grip up thereby pushing the stock into some sharp corrections.
short bajauto 3250-3255 with sl 3265
target 1 =3205
target 2= 3172
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Monthly is clearly bullish with great momentum candle breaking out of the monthly resistance. A double bottom can also be spotted.
Weekly too gives a positive picture. Price has broken out of the resistances and smashed them. A pullback from this nice uptrend can be seen to test weekly...
Bajaj Auto Ltd. engages in the manufacture and market of motorcycles and three-wheeler vehicles. It operates through the Automotive and Investments and Others segments. It offers motorcycles, scooters, commercial vehicles and related spare parts. The company was founded in November 29, 1945 and is headquartered in Pune, India.
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BAJAJ_AUTO
