Bajaj Auto: Elliott Wave update

On January 10, I had suggested that Bajaj Auto appeared to be a good candidate that could go against the gathering bullishness in the overall market. The speed of the recovery in this stock is unsettling, and I have clearly become over confident about the prospect on the downside. So it is time to look for ways to salvage this position. If you see it dip to close to the recommended entry level around 1505. I would urge traders to take back their shorts and look for a new trade in some other stock.

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