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Bajaj Steel Inds (BAJAJST) — Technical Setup
₹352.20 -0.35% Weak Downtrend Volatility Contraction Bearish
Summary
Bajaj Steel Inds is in a weak downtrend on the daily chart. RSI(14) is 41.2, MACD is above its signal line, ADX reads 14 (weak trend). Volume in the latest session was 0.5× its 20-day average. Over three months it has underperformed the Nifty 50 by 13.4 percentage points. Nearest support is ₹349.02 and resistance ₹376.85. Its technical score is 39/100 (bearish).
🧮 How the 39/100 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 (-2.41)0/3
- 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) (14.02)1/3
- Weekly trend up (above a rising 30-week average)0/2
- RSI(14) in the bullish zone (55-70 best) (41.22)2/6
- MACD line above its signal line4/4
- MACD line above zero (-4.22)0/3
- 12-day rate of change positive (0.18)3/3
- Stochastic %K above %D0/2
- Outperforming the Nifty 50 over 3 months (-13.38)0/2
- On-balance volume rising over 20 sessions5/5
- Chaikin Money Flow (20) positive (-0.12)0/5
- More volume on up days than down days (20 sessions) (1.73)5/5
- Close above 20-day VWAP (-1.89)0/5
- Daily range (ATR%) contained — ≤2.5% scores full (3.85)4/6
- Price in the upper half of its Bollinger Bands (0.28)2/5
- Shallow drawdown from the 52-week high (-27.68)1/5
- Volatility contracting (20-day volatility below its 6-month median) (13.10)4/4
- Room to the next resistance (≥8% scores full) (7.00)3/5
- Support close below (a tight, definable stop) (0.90)5/5
- Broke above a 20-day high in the last 5 sessions0/5
- Within 5% of the 52-week high (-27.68)0/5
🧭 Regime: Weak Downtrend
Volatility Contraction — Bollinger width is in the 20th percentile of the last six months.
Suits: Defensive. Price is below its averages. Oversold bounces happen, but the path of least resistance is lower — wait for a base.
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 | 41.22 | 0.46 |
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 | ₹460.90 | +30.9% | 1 |
| Resistance | ₹421.93 | +19.8% | 4 |
| Resistance | ₹390.50 | +10.9% | 2 |
| Resistance | ₹376.85 | +7.0% | 2 |
| Close | ₹352.20 | — | |
| Support | ₹349.02 | −0.9% | 4 |
52-week range: ₹343.00 – ₹487.00 (-27.68% from the high).
🌀 Fibonacci
Measuring the down-swing from ₹487.00 (2026-04-21) to ₹343.00 (2026-08-28). Price has retraced 6.4% of it.
| Ratio | Price | Distance | |
|---|---|---|---|
| 23.6% retracement | ₹376.98 | +7.0% | S/R confluence nearest |
| 38.2% retracement | ₹398.01 | +13.0% | |
| 50.0% retracement | ₹415.00 | +17.8% | |
| 61.8% retracement | ₹431.99 | +22.7% | |
| 78.6% retracement | ₹456.18 | +29.5% | S/R confluence |
| 127.2% extension | ₹303.83 | -13.7% | |
| 161.8% extension | ₹254.01 | -27.9% | |
| 200.0% extension | ₹199.00 | -43.5% |
🕯️ Candlesticks (last 5 sessions)
- Doji 2026-09-11 neutral Weak · 20
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.
