Bajaj Holdings & Investment Limited (BAJAJHLDNG) Stock - Complete Technical Analysis - Oct 22, 2024

Bajaj Holdings Technical Analysis: Key Levels to Watch

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.

In the analysis of Bajaj Holdings & Investment Limited, the stock currently stands at 10,296.75, reflecting a notable dip of 9.28% from its recent high of 11,350.0 reached on September 20, 2024. This decline follows a substantial increase from its 52-week low of 6,627.9 on October 30, 2023, signifying a robust recovery of 55.35%.

The Average Directional Index (ADX) indicates a weak trend, while the Relative Strength Index (RSI) at 44.6 and the Stochastic %K at 30.9 suggest that the stock is neither overbought nor oversold, hinting at a potential reversal. Todays candlestick pattern is a Spinning Top, demonstrating indecision in the market. The trading range shows volatility with an open at 10,367.45, a high of 10,489.05, and a low of 10,101.05.

With resistance at 10,500 and 10,600, and support identified around 10,000 and 9,900, traders should monitor these key levels closely for breakout or reversal opportunities. Despite the bearish momentum indicated by the Awesome Oscillator and MACD remaining below zero, the solid fundamentals characterized by a Dividend Yield of 1.27%, alongside strong ROCE and ROE, provide a balanced perspective for long-term investors.