Tech Query: Bajaj Auto, MRF, LMW, Asian Granito India – What is the outlook? Where are
I have bought Bajaj Auto shares at ₹9,150. Bajaj Auto (₹11,642): The outlook is bullish. The strong surge breaking above the key resistance level of ₹10,800 indicates that the stock has gained momentum.
MRF (₹1,34,179): The long-term outlook is bullish for MRF. The recent bounce from the low of ₹1,22,000 made in May is happening from the 200-Week Moving Average (WMA).
History shows that the stock has seen a strong rally every time it had bounced from this 200-WMA. The upside is now open to see ₹1,88,000 in the next 12 to 18 months.
What Happened
You can buy MRF shares now at ₹1,34,179. Trial the stop-loss up to ₹1,40,800 as soon as the stock goes up to ₹1,46,200.
I have bought Bajaj Auto shares at ₹9,150.
Bajaj Auto (₹11,642): The outlook is bullish.
The strong surge breaking above the key resistance level of ₹10,800 indicates that the stock has gained momentum.
Key Details
Revise the stop-loss higher to ₹1,46,500, ₹1,59,800 and ₹1,68,900 as soon as the stock price goes up to ₹1,54,600, ₹1,64,400 and ₹1,74,800 respectively. I am holding shares of LMW at an average price of ₹6,008.
The region between ₹10,800 and ₹10,750 will now be a very good support.
Keep a stop-loss at ₹10,520 and hold the stock.
Bajaj Auto share price has potential to target ₹14,600 over the next one year.
Why It Matters
LMW (₹16,619): The long-term trend is up and is very much intact. The price action since September 2024 indicates a bull flag formation in the monthly chart.
Revise the stop-loss higher to ₹11,150 as soon as the stock goes up to ₹12,400.
Revise the stop-loss higher to ₹12,200 and ₹13,400 when the price touches ₹12,900 and ₹13,900, respectively.
What Reports Say
Coverage of the story so far points to:
This bullish view will come under threat only if the price declines below ₹10,750.
If that happens, a fall to ₹9,800 can be seen.
Continued reporting by BusinessLine as more details emerge
