Market Observation & Key Levels : BHEL BAJAJ AUTO HINDALCO

By | January 2, 2026 8:14 am
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BHEL

Positional View: The stock is facing a major hurdle at 294.

  • Bearish Scenario: If the price gives a confirmed close below 289 , the chart structure weakens, potentially opening room towards the 279 demand zone.

Intraday Scenarios: For today’s session, the price action revolves around the breakout or breakdown of the current consolidation range.

  • Strength (Upside): A sustained move above 294 indicates fresh buying interest. In this case, the immediate resistance levels are 297, 300 and 303.

    • Support/Invalidation: This positive structure technically weakens if the price fails to hold 291.

  • Weakness (Downside): Selling pressure may intensify if the price slips below 289. The next support zones to watch would be 286, 283 and 279.

    • Resistance/Invalidation: This bearish view is negated if the price reverses and reclaims 291.

BAJAJ AUTO

Positional Outlook: The stock is approaching a key resistance level at 9600.

  • Bearish Scenario: If the price gives a confirmed close below 9500, the chart structure weakens, potentially opening room towards the 9000 demand zone.

Intraday Key Levels: The price is currently consolidating. Watch these pivot points for direction:

  • Strength (Upside): A sustained move above 9600 indicates bullish momentum. If this holds, the next resistance levels to watch are 9700, 9800, and 9900.

    • Support/Invalidation: This setup technically weakens if the price drops back below 9550.

  • Weakness (Downside): Selling pressure typically intensifies below 9500 . A breakdown here could see the price test lower supports at 9400,9300, or 9200.

    • Resistance/Invalidation: This negative view is negated if the price reclaims 9550.

 

HINDALCO


Positional Technical View: The stock is currently testing a critical Resistance zone. On a closing basis, 900 acts as a major make-or-break level.

  • Bearish Scenario: If the price gives a confirmed close below 888, the chart structure weakens, potentially opening room towards the 840 demand zone.

Intraday Key Levels to Watch: For today’s session, the price action is poised between immediate resistance and support.

  • Strength (Upside): Momentum is likely to pick up if the price sustains above 901 . In this scenario, the next resistance levels to watch are 909, 918  and 925 .

    • Invalidation Level: This bullish view weakens if the price dips back below 895.

  • Weakness (Downside): Immediate pressure is visible below 888. A breakdown here could see the price drift towards 880, 872 or 866.

    • Invalidation Level: This bearish setup typically negates if the price reclaims 895.

 

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  • All prices relate to the NSE Spot/Cash Market

  • Calls are based on the previous trading day’s price activity.

  • Intraday call is valid for the next trading session only unless otherwise mentioned.

  • Stop-loss levels are given so that there is a level below/above, which the market will tell us that the call has gone wrong. Stop-loss is an essential risk control mechanism; it should always be there.

  • Book, at least, part profits when the prices reach their targets; if you continue to hold on to positions then use trailing stops to lock in your profits.

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