Bajaj Electricals Near Key Breakout Zone; SEBI RA Krishna Pathak Sees Strong Potential Upside

The company had reported favorable March-quarter results in May, following which the stock gained over 10%

Bajaj Electricals (BAJAJELEC.NSE) is at a critical resistance level, with technical indicators suggesting that a breakout could lead to a sustained uptrend, according to SEBI-registered analyst .

At the time of writing, the stock is trading at ₹677, just below a major trendline resistance at ₹700.

Pathak added that a breakout from the ₹700 mark could spark strong bullish momentum and enable the stock to advance toward the first and second price targets of ₹930 and ₹1011.

The stock is finding strong support at its nine-week exponential moving average (EMA) of ₹633, Pathak said.

The analyst said that a notable accumulation zone lies in the ₹590–₹600 range, which has historically served as a strong base for fresh entries.

Pathak said the recent price movements indicate a potential bullish reversal pattern forming after a prolonged downtrend.

However, a drop below ₹465 could negate the bullish setup and potentially lead to a deeper correction, Pathak warned.

Retail sentiment on Stocktwits remained ‘bullish’ amid ‘normal’ message volumes.

Last month, Bajaj Electricals reported that consolidated net profit had doubled to ₹59.05 crore for the March quarter of FY25, while revenue from operations grew 6.5% year-on-year, to ₹1,265.47 crore during the same period.

Since the results, gained over 10% as of Wednesday’s close, but declined 12% year-to-date.

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