Bajaj Auto share price near the breakout levels and what will be the entry price for Bajaj Auto and what will be the upcoming targets should i consider? Today am here with the latest fresh breakout levels for Bajaj Auto share. Bajaj Auto Ltd mainly into the two and three wheeler manufacturing, export their products to 79 countries. We will look in to the entry price and Targets for both intraday and short term levels. Lets start with the chart analysis as shown below.
Also check out our Previous Breakout levels on Cummins India, Maruti, HDFC Bank which gives a good movement in last week.
Latest Chart Analysis of Bajaj Auto share
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| Latest Chart Analysis of Bajaj Auto share 2024 March |
To analyze the breakout levels in Bajaj Auto share, we have shared the Trading view daily chart. Bajaj Auto share price currently trading at 8945 rupees at NSE Today. On last trading section Bajaj Auto share created a new 52 week high of 9050, this is a more than 25 points from the previous high created on 11th March 2024. So we have have got a chart pattern which is ready to break out as shown in the chart above.
Last week we have seen the huge positive response for the Buy back of shares worth 4000 crores of rupees. The buy back of Bajaj Auto share oversubscribed by 6.89 times. This is a good sign for the stocks, signaling that you can expect a growth in this stock in coming years. Also Bajaj Auto Ltd Managing Director Rajiv Bajaj said that he sees the Fair value of this stock is at 12000 rupees per share on CNBC-TV18 last week.
On the other side, major Brokerage Firm JP Morgan raised the target price of Bajaj Auto share to 8900 from 8275. Out of 45 analysts, 21 of them maintained Buy on this particular stock.
Entry levels for Bajaj Auto and the Latest Targets
Now the question is that when you should buy this this stock and what will be the targets. The major Resistance levels for Bajaj Auto share is from 8955 to 9050 levels. You can consider a buy above this resistance level. Targets for Bajaj Auto can be considered for the intraday levels and short term levels.
For intraday Trading in Bajaj Auto, we can consider a entry just above the high of 9050 for a target of 9140, 9185 and 9225 levels. When a breakout happened in the stock as mentioned above, you can enter to Options or Futures of Bajaj Auto share for the better results. Stoploss for Intraday trading can be considered at live market or as per your capital and capabilities of risk which one can afford. Based on this can select the Stoploss and calculate your position size.
When we look in to the short term Targets for Bajaj Auto share, 10000 levels can be possible in coming months and can move up to 10990 levels. Also 8080 can be considered as the Stoploss for this stock.
- Pivot Resistance 1 is 9080 levels.
- Pivot Resistance 2 is 9511 levels.
- 52 week high is 9050 levels.
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