Bajaj Healthcare Limited (BAJAJHCARE) Stock - Complete Technical Analysis - Dec 11, 2024

Bajaj Healthcare Stock Analysis: Key Trends, Resistance, & Trading Strategies

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 Healthcare Limited (BAJAJHCARE) shows a bullish trend, with its price breaking above critical levels and trading well above its 200-day SMA of 352.76, a strong long-term bullish signal. Recent price action indicates a recovery rally, with higher highs and higher lows, supported by robust buying pressure near its 10-day EMA.

Indicators such as RSI at 66.26 and Stochastic RSI at 92.23 suggest the stock is approaching overbought conditions, but MACD's positive trajectory confirms momentum remains intact. Fibonacci pivots and classic resistance levels around 450-460 are key zones to watch, as breaching them could open doors to new highs. Conversely, if the stock fails to hold its support near 424 (VWMA), it could signal profit-taking, especially given its proximity to a 52-week high.

For intraday and short-term traders, gaps formed between December 5-6 highlight volatility zones that could act as support in pullbacks. Mid-term traders should watch the ADX at 22.73, as it shows limited trend strength, implying a possibility of sideways movement or consolidation after the current rally. Despite challenges like low ROE and a modest dividend yield, momentum and technical setups favor bullish continuation in the short term.