Bajaj Auto Limited (BAJAJ-AUTO) Stock - Complete Technical Analysis - Sep 16, 2024

Bajaj Auto Stock Analysis: Bullish Indicators & Key Support/Resistance Levels BAJAJ-AUTO Review

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 Auto Limited (BAJAJ-AUTO) is currently trading at 11,688, just below its 52-week high of 11,893. The stock has demonstrated strong upward momentum, supported by various bullish indicators. The MACD and Awesome Oscillator are showing significant positive signals, reflecting the stocks strong buying interest.

The RSI is approaching overbought levels, suggesting that the stock could be due for a pullback soon. The Stochastic Oscillator and Williams %R are also indicating that the stock may be reaching an overextended phase. Despite these signals, the overall trend remains robust, with the stock trading comfortably above its key moving averages, including the 10-day, 20-day, and 50-day EMAs.

Support levels are seen around the 11,200 to 11,400 range, which aligns with several moving averages and recent pivot points. Resistance is expected near the 11,800 to 12,000 levels. If the stock can break through these resistance levels, it may test higher targets, potentially reaching the 12,500 to 13,000 range. Traders should monitor for signs of consolidation or reversal around these levels for optimal entry or exit opportunities.