Bajaj Auto post covid low's in March 2020,has been raising in an corrective manner there by forming WXY double correction.Of this WXY we are done with wave W and wave X,and wave y has begun just before 2 days when it broke past 3372 wave 4 peak.
Wave W:zigzag
Wave X:zigzag
Wave Y:Zigzag(however not clear as of now)
So far we cannt conclude which form wave y will take but minimum target for wave y is coming at 4600,hence one can go long woth wave x low's of 3050 as stop-loss and 4600 as initial target.CMP is 3436 one can go long at cmp and should keep adding till 3200 at every 3% dip from current levels.
Disclaimer:This are just my views on the stocks,position should not be build on its basis,i am posting this just for my future reference.
Wave W:zigzag
Wave X:zigzag
Wave Y:Zigzag(however not clear as of now)
So far we cannt conclude which form wave y will take but minimum target for wave y is coming at 4600,hence one can go long woth wave x low's of 3050 as stop-loss and 4600 as initial target.CMP is 3436 one can go long at cmp and should keep adding till 3200 at every 3% dip from current levels.
Disclaimer:This are just my views on the stocks,position should not be build on its basis,i am posting this just for my future reference.