Bajaj Auto Down 4.35% Today, Nifty Trades In Red

Shares of Bajaj Auto traded at ₹9448.3, 4.35% down from previous day’s close. The stock hit its peak at ₹9899.7, while it hit its lowest at ₹9402 during today’s trading session.

The shares of Bajaj Auto were above its 300 days SMA (Simple Moving Average) and lower than the 5,10,20,50,100 day SMA. Having a support at 300 days SMA, the stock will have face resistance at 5,10,20,50,100 days SMA.

Performance of Bajaj Auto as of now

As of 11 AM today, the volume of shares (Bajaj Auto) traded was 396.40% higher than previous day’s close. A positive price movement along with a higher volume indicates a sustainable upmove whereas negative price movement with higher volume can be attributed to decline in prices.

Notably, the stock’s continued downward trend indicates a bearish trend, Mint’s technical analysis reported. While the company has a ROE of 26.43%, The current P/E of the stock is at 37.51 & P/B is at 8.87. WIth a target price of ₹10785.00, the median 1-year forecasted upside is at 14.15%.

The mutual fund holding is up from 2.40% in June to 2.51% in the September quarter. FII holding increased to 14.32% in the September quarter.

The shares of Bajaj Auto traded in red, its peers including Eicher Motors, TVS Motor Co, Hero Motocorp, Tube Investments Of India are also falling today. Nifty & Sensex are down -1.57% & -1.58% each respectively.