HARMONIC PATTERN IS VISIBLE HERE. TODAY THE STOCK BROKE THE SUPPORT LINE DECISIVELY. SO GOING FORWARD THE STOCK WILL BE BEARS FAVOURITE. THE NEXT SUPPORT SEEN FOR THE STOCK IS AT 2515 WHICH IS STILL 200 POINTS AWAY. ITS ALSO THE B POINT IN HARMONIC FORMATION. IDEALLY FOR HARMONIC PATTERN TO WORKOUT THE STOCK WILL SEE A BASE FORMATION IN THE ZONE OF 2350-2400. ALSO TODAY IT WENT BELOW THE 200 DAY MOVING AVERAGE, WHICH FURTHER ADDS TO THE BEARS FAVOURITE LIST.
FUNDAMENTAL STUFF
RAJIV BAJAJ IS AN EXCELLENT BUSINESS LEADER AND THERE ARE NO DOUBTS IN HIS CAPABILITIES, BUT BAJAJ AUTO IS LOSING ITS MARKET SHARE THANKS TO LACK OF SCOOTER PRODUCT IN THIER PORTFOLIO. VIKRANT HAS FAILED IN THE MARKET AND DOMINAR IS STRUGGLING TOO. PULSAR SERIES IS THE LONE HERO WHICH IS HELPING THE BRAND MAINTAIN ITS PRESENCE. HONDA IS GAINING MARKET SHARE WITH EACH PASSING DAY THANKS TO ACTIVA AND HERO WITH ITS OLD IMAGE AND FEW PRODUCT MIX IS ABLE TO MAINTAIN ITS INDUSTRY LEADER POSITION. COMPANIES WITH SCOOTER PORTFOLIO SERVING THE MASS MARKET IS WHAT OUR SHARE MARKET LIKES ( TVS MOTORS ) OR COMPANY WITH A NICHE PRODUCT LINE WITH ABSOLUTE MONOPOLY IN ITS SEGMENT ( ROYAL ENFIELD of the EICHER GROUP). TO SUM UP, BAJAJ AUTO NEEDS TO REALLY WORK OUT ON ITS PRODUCT MIX TO CHALLENGE THE INDUSTRY LEADERS.
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