Preferable Trade Setup-Buy at support
BAJAJ-AUTO is currently trading inside the daily support level of 2915-3020.45.Trend in daily time frame chart is uptrend.Break of this support level will trigger more selling pressure in BAJAJ-AUTO.
Fib retracement level for BAJAJ-AUTO
Fibonacci golden level of 61.8 % for BAJAJ-AUTO is at 2937, which has been touched already.Buying entry as per fib retracement level is already triggered in BAJAJ-AUTO.Above mentioned daily support level of 2915-3020.45 and fib support level provides strong support level of 2915-2937.Current bounce in BAJAJ-AUTO looks strong.
Monthly support and resistance levels of BAJAJ-AUTO using NSE option chain data
As per NSE option chain data, support level for BAJAJ-AUTO is 2880-2900 and resistance level is 3100-3200.