Bajaj Auto Stock Expected to Rise Amid Auto Rally, Analysts Say
Auto rally gains traction: Bajaj Auto poised for upside, says Ajit Mishra, Religare Broking
The Economic Times
Image: The Economic Times
Ajit Mishra, Senior Vice President of Research at Religare Broking, indicates that Bajaj Auto's stock is showing signs of recovery. He suggests that traders can target a price of ₹9,950 within the next 2-4 months as bearish pressures diminish.
- 01Bajaj Auto stock is transitioning from distribution to accumulation.
- 02Analysts believe bearish pressure has largely exhausted.
- 03A target price of ₹9,950 is suggested for the next 2-4 months.
- 04The auto sector is currently experiencing a rally.
- 05Investors are encouraged to buy Bajaj Auto shares.
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Bajaj Auto's stock is gaining momentum as it shows signs of a reversal structure, according to Ajit Mishra, Senior Vice President of Research at Religare Broking Ltd. He notes that the stock has transitioned from a phase of distribution to accumulation, indicating that previous bearish pressures are fading. Traders are advised to consider buying Bajaj Auto shares with a target price of ₹9,950 within the next 2-4 months. This positive outlook comes amid a broader rally in the auto sector, suggesting potential for further gains.
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This could provide investment opportunities for traders and boost confidence in the auto sector.
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