Bajaj Auto
  • 05 June, 2024 Ruchit Thakur

Bajaj Auto

Bajaj Auto appears to be a good long-term investment, since the stock has broken off of its all-time high and is rising.

As shown in the chart, Bajaj Auto is a fantastic buy opportunity around the 9300-9500 range, and it has performed well thus far, with a large upside potential.

Please view the Bajaj Auto daily chart. The stock is trading above the horizontal resistance and continues to increase after breaking out of the 9300 range. Bajaj Auto is now enjoying strong demand in the 9300-9500 range, as indicated in the chart. The predicted increase is 10800-11000. 

  • Bajaj Auto is an excellent long-term investment opportunity because it has delivered a reasonable breakout around the 9300 to 9500 levels and is currently performing well on an uptrend.
  • Bajaj Auto appears to be in good shape on the chart, with the potential for more gains to the 10800 and 11000 levels.
  • As of today, 9300-9500 is the greatest moment to buy this company because the risk-to-reward ratio was optimal for making a cash purchase.


 


Please see the accompanying Bajaj Auto Chart for reference. The daily chart shows horizontal resistance and breakout, as well as demand in the 9300-9500 region, and the stock is gaining after accounting for abundant demand in the previously mentioned 9300 range.

Please consider the horizontal resistance and its breach, which resulted in the stock establishing a new all-time high today, presenting an excellent opportunity to go long at the current market price. So far, the stock has continued the chart's upward trend, touching 10800 and 11000 levels, respectively.

Investors may look for a long-term purchase opportunity around the 9300 range because the stock is in strong demand, resulting in a comeback to the 10800 and 11000 levels, showing a positive risk-reward ratio.

Investors could buy the stock in cash for a long period and set a stop loss at 9100 to accomplish price goals of 10800 and 11000, respectively.

Bajaj Auto's daily chart shows support and resistance. The spot chart illustrates each level.

 

Bajaj Auto

Support

Resistance

Level 1

9150

10800

Level 2 

9100

11000

 

Company Profile: Bajaj Auto is a worldwide car manufacturing firm headquartered in Pune. It makes bikes, scooters, and auto-rickshaws. Bajaj Auto is part of the Bajaj Group. Jamnalal Bajaj (1889-1942) founded it in Rajasthan during the 1940s.

 

Bajaj Auto is the world's third-largest motorcycle manufacturer, and the second-largest in India. It is the world's leading three-wheeler manufacturer. In December 2020, Bajaj Auto reached a market capitalization of ₹1 trillion (US$12 billion), becoming the world's most valuable two-wheeler firm.