Bajaj Auto has recently drawn attention in the Indian stock market, with analysts observing potential signals aligned with Elliott Wave theory, a popular method in technical analysis. The stock has displayed a consistent uptrend, hinting at a possible wave formation that could indicate continued bullish momentum.
Source – FXStreet
Technical analysts suggest Bajaj Auto may currently be in its third wave, often considered the strongest in Elliott Wave theory, which aligns with recent surges in volume and price action. However, key resistance levels are being closely monitored, as breaching these thresholds would confirm the theory while a reversal could challenge current predictions.
