Bajaj Auto’s chart shows a failed breakout

Bajaj Auto’s chart shows a failed breakout from the rising trendline structure. The stock had been moving higher along the ascending trendline and, in late September, attempted to sustain above the ₹12,000–₹12,100 zone. However, the breakout lacked follow-through: after briefly moving above the trendline/resistance area, the stock faced strong selling pressure and quickly slipped back below the breakout zone. This indicates a bull-trap/failed-breakout type setup, where the breakout could not sustain and sellers regained control. The subsequent decline has been sharp, with the stock now around ₹10,045, and today’s large bearish candle further confirms the loss of momentum. Going forward, ₹10,000 is an important psychological level, while the earlier breakout/trendline area around ₹11,700–₹12,000 becomes a major resistance zone. A sustained recovery back above this area would be needed to repair the failed-breakout structure, whereas continued weakness below ₹10,000 could keep the short-term structure under pressure.