Bajaj Auto has broken out of Symmetrical triangle on 30 minutes chart. Volume on breakout is high which suggest that upward momentum will continue for time being. Buy Bajaj Auto in 3095-3075 range with stop loss below 3040 for target 3200.
AS PER WAVE ANALYSIS,
THE FIRST WAVE IS FROM 2419 TO 2903.
SECOND WAVE IS FROM 2903 TO 2472.
THIRD WAVE IS FROM 2472 TO 3092.
THIS IS 1.38 OF FIRST WAVE.
HENCE, WATCH OUT FOR THE 'DOJI' SIGNAL.
Bajaj Auto has given first indication of bull run when it closed above 2900 on weekly basis which started higher top higher bottom series. Counter has corrected after touching high of 3050. 38.2% retracement of entire rally from 2450 -3050 comes at 2825. 2810-2825 zone should provide support for next bull run. Stochastic has entered into oversold zone but yet to...
The best way to trade Bajaj Auto is to sell Bajaj Auto and Buy TVS Motors. Bajaj Auto already shot up a lot and just started to fall. While TVS Motors has already reached OI resistance.
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BAJAJ_AUTO
![BAJAJ_AUTO: [Positional] Bajaj Auto Channel Trade](https://s3.tradingview.com/0/0jj9kZ6A_mid.png "[Positional] Bajaj Auto Channel Trade")
