BAJAJ AUTO LTD – Trendline Breakout with Upside Potential

BAJAJ_AUTO – Trendline Breakout (The setup offers a favorable risk-reward ratio, with potential for ~500+ points upside from the breakout zone.)

Chart Type: Daily (1D)
Current Price: ₹8,455
Structure: Falling wedge breakout with defined targets

Falling Wedge Formation:

The price has been consolidating within a falling wedge pattern, indicating a potential bullish reversal.

Both upper and lower trendlines (labeled as "small down trend") have been respected multiple times, validating the structure.

Breakout Confirmation:

A breakout above the descending trendline has occurred, accompanied by a bullish candle closing above the immediate resistance zone around ₹8,407.

This marks the breakout point and indicates a shift in momentum.

Support Zone:

Strong support has been established near ₹8,225.55, as marked on the chart.

This level can serve as a stop-loss for bullish positions.
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BUY: above 8410-8450

SUPPORT ( SL ) : 8220

RESISTANCE ( TGT) :8640-8780-9000+++