Bajaj Consumer Care Limited (BAJAJCON) Stock - Complete Technical Analysis - Sep 27, 2024

Bajaj Consumer Care Stock Analysis: Is A Rebound Coming Key Support & Resistance Levels

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 Consumer Care Limited (BAJAJCON) is currently trading at 249, just below the key resistance at 250. Recent price action has formed a Bearish Shooting Star pattern, suggesting potential downside pressure. However, a Bullish Harami found earlier signals that bulls might still attempt a recovery. Technical indicators are mixed, with RSI hovering around 37, indicating the stock is approaching oversold levels. The MACD remains in bearish territory, showing negative momentum, while the ADX suggests a weak trend direction at this point. Stochastic indicators point towards a potential bounce, but the Awesome Oscillator reflects underlying bearishness. Major support levels are around 242, aligned with the 200-day EMA, while immediate resistance is seen at 262. A break above this level could trigger further upside, but caution is advised due to the stock trading below key short-term moving averages. Traders should watch for price action near the support zone, as failure to hold could push the stock further towards 237. With a healthy dividend yield of 1.20% and solid ROCE of 22.3%, the stock may attract value investors in case of a deeper pullback, but short-term momentum suggests waiting for clearer bullish signals before entering.