Bajaj Holdings shares decreased by 0.55% as Nifty witnessed a drop

Shares of Bajaj Holdings & Investment Ltd. slipped by 0.55% to Rs 7904.9 in Tuesday's trading session. Throughout the day, the stock reached a high of Rs 7941.35 and a low of Rs 7866.1.

Analyzing the technical charts, the stock's 200-day moving average (DMA) stood at Rs 7686.19, while the 50-DMA was at Rs 8501.92. When a stock trades above the 50-DMA and 200-DMA, it typically indicates an upward trend. Conversely, trading below both moving averages suggests a bearish trend, while trading between them indicates uncertainty.

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Furthermore, the stock traded below the signal line of the momentum indicator Moving Average Convergence Divergence (MACD), signaling a bearish bias. MACD calculates the difference between the 26-day and 12-day exponential moving averages, with a nine-day exponential moving average as the signal line.

The Relative Strength Index (RSI) for the stock stood at 34.72. Traditionally, an RSI above 70 indicates overbought conditions, while below 30 suggests oversold conditions.

Regarding profitability metrics, the return on equity (RoE) was reported at 10.97%, while the Return on Capital Employed (RoCE) stood at 0.59%. RoCE assesses a company's profitability and capital efficiency, while RoE measures profitability relative to equity.

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