Bajaj Auto Limited (BAJAJ-AUTO) Stock - Complete Technical Analysis - Nov 27, 2024

Bajaj Auto Stock Analysis: Key Support, Resistance Levels & Technical Indicators BAJAJ-AUTO

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 is showing notable volatility as it trades at 9,190, 28% below its 52-week high. Recently, a Doji candlestick followed by a Bullish Harami pattern suggests indecision in the market, with the stock fluctuating between bullish and bearish pressures.

Support levels are found near 9,120, with resistance in the 9,440-9,500 range. The Relative Strength Index (RSI) is at 30.39, indicating that the stock may be oversold, potentially opening up buying opportunities if the stock shows signs of recovery. However, MACD and Awesome Oscillator suggest that the bearish momentum is still in play, and the stock is under downward pressure.

The stock's volatility is moderate as indicated by the ATR (Average True Range), and the Average Directional Index (ADX) reading of 39.64 confirms a strong trend, though its direction remains uncertain. This suggests that traders should be cautious, monitoring key price levels and confirming any trend reversal signals before making a move.

Overall, Bajaj Auto Ltd shows indecision in its current price action, and traders should keep an eye on support at 9,120 and resistance near 9,440 to 9,500 for potential breakouts or reversals.