BAJAJ AUTO LTD
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Bajaj Auto Ltd.: Descending Wedge - Breakout or Breakdown?

Bajaj Auto Ltd. is currently trading within a descending wedge pattern, indicating potential consolidation or a breakout scenario. Here’s the technical breakdown:


Key Observations
Descending Wedge:
  • The price is narrowing, with lower highs and lows, signaling reduced selling momentum.

Support Zone:
  • ₹8,800–₹8,900 serves as a strong support level. A breakdown below this could lead to further downside.

Resistance Levels:
  • ₹9,262.90: Immediate resistance.
  • ₹9,642.45 and ₹9,995.55: Higher levels to watch in case of a breakout.



Trade Outlook
Bullish View:
A breakout above the wedge’s upper trendline signals upward momentum, targeting ₹9,262 and beyond.
Bearish View:
A breakdown below ₹8,800 could push the price to ₹8,600 or ₹8,400.
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