Bajaj Auto to touch 2900 in the coming days - Dissimilarity Method - 1 hour
Today Auto Index went up by 3.6% and all auto stocks were up by 3-5% but surprisingly Bajaj Auto went up by only 0.73%. All two wheeler stocks like Hero, Eicher, TVS etc closed well in green, Maruti made all time highs. Budget focus on reviving rural demand is quite positive for two wheelers. Let's see if it goes to its previous highs or not. Buy with Stop loss...
Symmetric Triangle on Bajaj Auto and may break either side. Trade: Make Side: Buy above - 2788 Target - 2904 Stop loss - 2685 Break Side: Short below - 2550 Target - 2396 Stop loss - 2615
It is been observed on Daily and Weekly chart that the price action breaks above the prior downward trend line indicating a further bullish move ahead. Now, it shall further move up to 38.2% and 50% retracement levels. Target: 2800 Stoploss: 2650 Risk Reward: 1:1
it took support from important level. chart suggest breakout out of small triangle pattern on daily chart . target 1. 2776 cmp 2686 sl 2676
as we can see a bullish engulfing pattern there and rsi in overbought condition and bullish divergence there
short position and target till the support and as the stock price below 8 ema
Bajaj Auto has been trading in down trend and trading in a channel although there have been false breakout but it entered in to the channel, as in my previous analysis which was bearish flag patter and it completed almost 80% flagpole, it has now trading at the edge of channel resistance and may go further down or breakout may occurs. traders may enter long after...
Bajaj auto can continue its upmove.... Long position can be initiated above 2720 with SL 2689 & Target of 2785/2840
Bajaj Auto broke the up trend journey and has turned bearish. now it seems technically week and struggling to move upward. it formed a bearish flag pattern which also confirmed and approaching to flag pole target which is somewhere between 2417-2420. Trader may go further short in this stock with a target of 2417.00 in near term or may be in a week.
bajaja auto created bullish walf wave setup .... so above blues line geet ready for trade and @yellow line enter in trade and blue line is sl and green line trg .....
Bajaj Auto breaking the channel and retesting the resistance repeatedly and struggling to break resistance 2860.00, it is looking weak to go further and may approach to its near term support and 50% retracement to somewhere 2650-2648. risky trader may go short at current level conservative trader should enter above 2870.00.
The stock is getting support at up sloping trend line. Probably we can use this pull back for entering a long at this level. My idea has following justification 1. closed out of downtrend regression channel 2.Made an engulfing covering the previous candle completely. 3. Trend line support. 4. Mostly at this level of RSI it changes the trend. 5. Trend reversal...
Bajajauto giving breakout for a upmove upto 2840 around. Can be longed @ cmp with sl 2797