In the previous session, market had a corrective move with a negative bias throughout the day. Nifty index opened on a positive note but soon slipped into negative territory. No major recovery was seen from lows throughout the session. The Index formed a Bearish candle on the chart and closed on a flat note. Market looks volatile in the coming sessions, hence a cautious approach is advisable for the next trading day.

Look at the below research report of ‘Stocks to Buy for Wednesday, January 25,2023′ before the market opens.

Bajaj Auto Ltd.

The pattern analysis shows that the BAJAJ AUTO has once again attempted to resume its up move and closed above the 20 EMA support with positive momentum. We can see that the price has formed a ‘Rounding -Bottom Pattern’. Stock prices were facing multiple hurdle near 3670 levels since a few days and are currently moving above the neckline of the said pattern.

In short, BAJAJ AUTO looks to be at a breakout level with bullish up move expectations. Positions can be created around current levels, which can take prices towards 3755/3820 level. On the other side, 20 EMA support will act as key support for the stock.

Check More Analysis on BAJAJAUTO at: Bajaj Auto Ltd