Bajaj Holdings & Investment Limited (BAJAJHLDNG) Stock - Complete Technical Analysis - Dec 23, 2024

Bajaj Holdings Stock Technical Analysis Key Support & Resistance Levels Explained

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Bajaj Holdings & Investment Limited (BAJAJHLDNG) is trading at approximately 10,746, which is 6.92% below its 52-week high of 11,545.90. The stock has gained 41.03% from its 52-week low of 7,620.00, signaling a robust bullish phase. Over the past week, there have been signs of price fluctuations, with recent price action indicating a period of consolidation near the 10,75011,300 levels. On December 20, 2024, the stock tested lows around 10,651.40, closing at 10,746.75. However, it had previously surged, closing at 11,331.50 on December 19, 2024, suggesting that the stock could be poised for another rally if it can break the resistance at 11,500.

Traders should watch the key support and resistance levels closely. The stock's primary support is near the 10,650 region, and if that fails, it may test 10,400 and potentially dip to 10,000. On the upside, resistance is seen at 11,500, a level it has struggled to break through. The stock may experience a correction if the price fails to hold above the support levels or break through the 11,500 resistance.

Looking at technical indicators, the Relative Strength Index (RSI) of 47.8 reflects a neutral market, suggesting no immediate overbought or oversold conditions. The MACD remains positive, reinforcing the uptrend, although caution is needed with the Stochastic %K approaching overbought levels at 65.67. The Awesome Oscillator is also bullish, signaling ongoing positive momentum. However, the Average Directional Index (ADX) is moderate at 21, suggesting weak trend strength, which means the stock could see consolidation or erratic moves unless it decisively breaks key resistance.

The Average True Range (ATR) is high, indicating increased volatility, which could result in large price swings in either direction. Traders should be mindful of these factors and carefully monitor price action around the 11,500 resistance and 10,650 support levels to determine the next move for BAJAJHLDNG.