Bajaj Consumer Care Limited (BAJAJCON) Stock - Complete Technical Analysis - Oct 21, 2024

Bajaj Consumer Care (BAJAJCON) Stock: Is a Reversal Coming Technical Analysis & Key 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) has been in a bearish trend recently, trading at 225.68, about 22% below its 52-week high. The stock's RSI of 34.38 signals oversold conditions, which may attract value buyers. However, the strong bearish momentum is reinforced by the ADX at 39.01, suggesting the downtrend may persist in the short term. The MACD remains negative, and the Stochastic %K (12.0) shows the stock is heavily oversold. Key support levels are around 220, with resistance near 245-250, as reflected by the 50-day and 100-day EMAs. If the stock breaks below 220, a steeper decline could be in store. However, a bullish reversal could occur if the price breaks past the 240 resistance, offering a potential upward move. Volatility remains high, so traders should exercise caution and watch for key breakout signals.