NSE:BAJAJ_AUTO was in a downtrend from last few weeks, making lower highs and lower lows ( LHLL ) respecting T1 & T2.
At the current moment, it made a higher low and higher high while breaking T1 and this indicate a trend reversal that may bring the bulls in.
One may initiate a long position with a stop loss below 3680.
Like, Follow & Share for new updates.
Market Cap
₹ 110,602 Cr.
Current Price
₹ 3,822
High / Low
₹ 4,361 / 2,822
Stock P/E
19.6
Book Value
₹ 943
Dividend Yield
3.66 %
ROCE
25.4 %
ROE
19.8 %
Face Value
₹ 10.0
After good downtrend ,Bajaj Auto forming bullish base. You can clearly see rising macd over last six flat consolidation. And breakout in Obv which confirms the bull are active.
Bajajauto Long
Stock prices sustained around 200 day EMA
Rising RSI
Buy at CMP- 3757
SL- 3650
Target- 3860, 3965, 4030
Disclaimer- We are not SEBI registered advisor.
Charts and views are only for educational purpose.
On wedenesday the goverment of india also rs 26,058 crore for PLI(production-linked Incentive) scheme for auto, auto component industry and drone industry to enhance manufacturing in india.
RSI of NSE:BAJAJ_AUTO also showing a positive divergence in its daily chart. You can go for long on the daily chart of the bajaj auto. With the stop loss of 3805 because of...
BAJAJAUTO including all other auto stocks has fallen severely. All of them has formed a base for more than a month. Range is going to break soon.
Buy- Accumulate near 3700
Sl- 3600
Target-4050 4250
All the Auto Stocks have been underperforming since past some time. All the Auto are down by around 8 to 10% . Bajaj Auto is in a sideways zone as compared to its peers which are in sideways to bearish territory.
Hence in case of any positive rally Bajaj Auto could possible be the stock to catch up with previous highs faster than others.
The current risk and...
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
=======
I use shorthands for my trades.
"Positional" - means You...
![BAJAJ_AUTO: [Bounce] Bajaj Auto Trend Analysis and Buy Idea](https://s3.tradingview.com/v/VzGjKo2E_mid.png "[Bounce] Bajaj Auto Trend Analysis and Buy Idea")
