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Bajaj Steel Inds (BAJAJST) — Technical Setup
₹319.55 +3.65% Strong Downtrend Normal Volatility Bearish
Summary
Bajaj Steel Inds is in a strong downtrend on the daily chart. RSI(14) is 48.8, MACD is above its signal line, ADX reads 26 (trending). Volume in the latest session was 1.5× its 20-day average. Over three months it has underperformed the Nifty 50 by 19.1 percentage points. Nearest support is ₹293.50 and resistance ₹349.02. Its technical score is 31/100 (bearish).
🧮 How the 31/100 is built
Five components, 20 points each. Every rule is shown with the points it earned — the score describes the chart as it stands today; it is not a prediction.
- Close above 20-day EMA (0.36)3/3
- 20-day EMA above 50-day EMA0/3
- 50-day EMA above 200-day EMA0/3
- Close above 200-day SMA0/3
- SuperTrend (10,3) pointing up0/3
- ADX ≥ 20 with +DI above −DI (trend has strength) (25.73)0/3
- Weekly trend up (above a rising 30-week average)0/2
- RSI(14) in the bullish zone (55-70 best) (48.83)2/6
- MACD line above its signal line4/4
- MACD line above zero (-4.79)0/3
- 12-day rate of change positive (7.16)3/3
- Stochastic %K above %D0/2
- Outperforming the Nifty 50 over 3 months (-19.08)0/2
- On-balance volume rising over 20 sessions0/5
- Chaikin Money Flow (20) positive (-0.09)0/5
- More volume on up days than down days (20 sessions) (0.84)0/5
- Close above 20-day VWAP (1.43)5/5
- Daily range (ATR%) contained — ≤2.5% scores full (4.51)2/6
- Price in the upper half of its Bollinger Bands (0.61)5/5
- Shallow drawdown from the 52-week high (-34.38)1/5
- Volatility contracting (20-day volatility below its 6-month median) (67.50)0/4
- Room to the next resistance (≥8% scores full) (9.22)5/5
- Support close below (a tight, definable stop) (8.15)1/5
- Broke above a 20-day high in the last 5 sessions0/5
- Within 5% of the 52-week high (-34.38)0/5
🧭 Regime: Strong Downtrend
Normal Volatility — Bollinger width is in the 41th percentile of the last six months.
Suits: Avoid longs / trend-following shorts. A strong downtrend: rallies are usually sold. Long setups need a completed reversal pattern first.
Classified from ADX, the 20/50-day EMA stack and price's distance from the 50-day average; volatility from band-width and ATR expansion.
Opens the AI Backtester with the SuperTrend (10,3) rules for BAJAJST — supertrend (10,3) flips to an uptrend.
🕰️ Multi-timeframe
| Timeframe | Trend | RSI (14) | MACD hist. |
|---|---|---|---|
| Monthly | — | — | — |
| Weekly | — | — | — |
| Daily | ▼ Bearish | 48.83 | 2.20 |
Weekly: close vs a rising 30-week average (Weinstein). Monthly: close vs the 10-month average. Weekly SuperTrend: —, weekly ADX —.
📶 Volume & VWAP
VWAPs are computed from daily bars (typical price × volume), not intraday ticks.
💪 Relative strength
BAJAJST ÷ Nifty 50, rebased to 100 a year ago. Rising = outperforming.
🧱 Support & resistance
Clustered swing highs and lows from the last year; “touches” is how many swings formed the level.
| Level | Price | Distance | Touches |
|---|---|---|---|
| Resistance | ₹421.93 | +32.0% | 4 |
| Resistance | ₹390.50 | +22.2% | 2 |
| Resistance | ₹376.85 | +17.9% | 2 |
| Resistance | ₹349.02 | +9.2% | 4 |
| Close | ₹319.55 | — | |
| Support | ₹293.50 | −8.2% | 1 |
52-week range: ₹293.50 – ₹487.00 (-34.38% from the high).
🌀 Fibonacci
Measuring the down-swing from ₹460.90 (2026-06-19) to ₹293.50 (2026-10-26). Price has retraced 15.6% of it.
| Ratio | Price | Distance | |
|---|---|---|---|
| 23.6% retracement | ₹333.01 | +4.2% | nearest |
| 38.2% retracement | ₹357.45 | +11.9% | |
| 50.0% retracement | ₹377.20 | +18.0% | S/R confluence |
| 61.8% retracement | ₹396.95 | +24.2% | |
| 78.6% retracement | ₹425.08 | +33.0% | S/R confluence |
| 127.2% extension | ₹247.97 | -22.4% | |
| 161.8% extension | ₹190.05 | -40.5% | |
| 200.0% extension | ₹126.10 | -60.5% |
🕯️ Candlesticks (last 5 sessions)
- Doji 2026-11-05 neutral Weak · 35
Quality combines the pattern's reliability with its context: prior trend, volume, a support/resistance level and RSI.
↗️ Divergences
No regular divergence on RSI, MACD, OBV, MFI or Stochastic at the latest swings.
✅ Screens BAJAJST passes today
⚠️ Educational technical analysis computed automatically from end-of-day NSE prices — not investment advice. Flash Finance is not SEBI-registered. Indicators describe what price has done; they do not predict what it will do. Verify levels on a live chart and manage risk before acting.
