Bajaj Electricals Ltd has already doubled its wealth so far this year compared to the more than 32% increase seen in Nifty50 and, based on technical parameters, 1500 rupees in the next 2-3 months. Will rise to the level of.
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Bajaj Electricals, with a market capitalization of approximately SEK 15,000, reached a 52-week high of Rs 1588 on September 17, followed by a plunge of approximately 30 percent per month.
Stock prices were backed at levels close to Rs 1200 in October and are now starting to rise an inch. It trades above the 20-day and 50-day MAs, with a medium relative strength index and high inching.
Bajaji Electricals Limited (BEL), a world-renowned and trusted company and part of the Bajaji Group, is a consumer product (appliance, fan, lighting), export, and EPC (lighting, transmission tower, distribution). It is spreading to.
Bajaj Electrical, which received support near Rs 1200 on October 8, is now on the rise. According to technical data, this momentum could bring stocks closer to the 1500 level, which will rise 16% in a couple of months from the closing price of Rs 1291 on October 18.
Bajaj Electricals’ share price recovered very well in mid-August 2021 and peaked at around 1000 levels to 1588, rising almost 60%. Then we saw the appropriate fixes to hit the bottom near the 1215 zone.
“Currently, positive bullish candles show a reversal of the tendency to move beyond the significant 50-EMA level of 1264 in order to improve bias and make the chart look technically very attractive. It forms a hockey stick-like pattern on daily charts, “Vaishali Parekh, Vice President-Prabhudas Lilladher Pvt technical research. The corporation said.
“The RSI is also showing a trend reversal from the oversold zone to indicate a buy and has the power and potential to maintain further upward momentum in the coming days,” she said.
Palek added that the mid-cap stock setup looked great and that the investment made at this point would have a decent return, for example, over a period of two to three months.
“Investors are encouraged to buy and accumulate stocks for the upward target of 1470-1500, maintain a stop loss of 1220 and achieve a decent return from this investment pick.” She added.
(Disclaimer: The views / suggestions / advice presented here in this article are by investment experts only. ZeeBusiness advises readers to consult an investment adviser before making financial decisions. It is recommended.)
Technical Check: Bajaj Electricals doubled its wealth in 2021. Accumulate to reach 1500 goals in 2-3 months
https://www.zeebiz.com/companies/news-technical-check-bajaj-electricals-doubles-wealth-in-2021-accumulate-for-a-target-of-1500-in-2-3-months-168149 Technical Check: Bajaj Electricals doubled its wealth in 2021. Accumulate to reach 1500 goals in 2-3 months