Bajaj Auto: Rally Isn't Over Yet? Elliott Wave Reveals What's Next!

Blending Elliott Wave Theory with price action helps traders spot high-probability trading opportunities.

Check out the research below on BAJAJ_AUTO

BAJAJ_AUTO Weekly chart as on 22^nd July 2026

Analysis

• The stock has been following a classic Elliott Wave pattern since March 2020.
• In which, post completing its Primary wave (3) on the upside the stock recently completed its primary wave (4) near the 7900 level in form of an Extracting Triangle pattern and now the rise is ongoing in the form of wave (5).
• Wave (5) is unfolding on the upside in the form of Terminal impulse (3-3-3-3-3).

51 Period Time cycle

• The stock has been following a 51 Period Time cycle consistently making temporary lows and bouncing back on the upside.
• The most recent cycle was on 16^th Feb’26 – 02^nd March’26 where the stock formed a low near the 8700 level and has reversed by more than 24% since then signalling a major importance in catching the bottom.
• The stock has also broken above the prior swing high indicating that the cycle has already turned on the buy  

Overall outlook

• BAJAJ_AUTO is currently trading within the Primary wave (5).
• This combination of Elliott Wave structure, price action indicates a strong technical setup.
• For now, traders should use buy on dips strategy as long as 9500 levels stays protected on the downside.

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