Trade Setup – NSE BAJAJ AUTO, ASIANPAINT & More

NSE POLYCAB is sitting on a Ticking Bomb

Timeframe: Daily
NSE POLYCAB has formed a low at 4555 and initiated a potential five-wave impulsive cycle. The price is currently trading above the 20/50/100/200 EMA levels. The Average True Range (ATR) stands at 165.32, while the Average Directional Index (ADX) is at 16.59, indicating a weak trend strength. The stock is now moving in the final 5th wave of this rally.

Based on Fibonacci projections, the next resistance zone is expected to be around 7,360 – 7,400, with a potential for further extension towards 7,600 if momentum remains strong. This is likely the last upward phase before the stock enters a bigger correction. As long as the price holds above 7,080, buyers can expect further gains. However, if it falls below this level, it may signal weakness and push the price back towards  6,400 – 6,600. The bullish scenario is valid until it breaks wave 4.

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NSE POONAWALLA – Bullish Setup

Timeframe: Daily
After making a low of 401.1, the price has begun rising toward a new high, gaining 18.28 points within the last three weeks. It has also broken above the 50/100/200 EMA band, showing strength in the current uptrend. The ATR stands at 13.76, while the ADX has climbed to 17.51, signaling improving momentum in favor of the bulls.

Traders are closely watching the supply zone, as overcoming it will be crucial for further upside. A breakout above 463.2 could open the way for higher levels, with potential targets at 469.5 – 476.3 – 483+. Free subscribers can take the previous day’s low as an invalidation level.

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NSE ASIANPAINT Breakout Opens New Targets

Timeframe: Daily
NSE ASIANPAINT has given a strong breakout above the resistance level of 2535, with the price rising by 2.32%. The ADX at 25.75 indicates strong trend strength, while the ATR of 48.54 suggests elevated volatility and room for wider price swings.

The breakout above resistance suggests that the bulls are taking control, and further upside could be expected if the stock sustains above 2535. Traders can look for the following targets: 2595 – 2630 – 2662+. A better entry is possible near 2570. Free subscribers can take the previous day’s low as an invalidation level.

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NSE BAJAJ AUTO – Elliott Wave Outlook

Timeframe: Daily
NSE Bajaj Auto has completed Wave B at 7858 and has started rising into the final Wave C. The ATR stands at 164.61, while the ADX is at 18.57, indicating moderate momentum. The price has broken above the 20/50/100 EMA but is currently facing resistance at the 200 EMA.

On the upside, Bajaj Auto is currently moving within a corrective structure and testing Fibonacci retracement levels. A sustained move above 8500 can push the price toward the 50% retracement at 8816, followed by 9042 (61.8%) and eventually 9363 (78.6%). If price sustains above 8500, traders can long for the following targets: 8621 – 8728 – 8835.

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Intraday setups for NSE stock GLENMARK and TTKPRESTIG are available below. Please log in to view the details.

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