1) The stock trapped sellers on a down move, and regained from the bottom
2) When it was falling, an immediate support from the buyers, known as stopping (A which stops the bear trend) came under play. You can clearly see that it helped BAJAJ ELECTRICALS to form a higher highs.
3) It is a known fact that after professional buying a stock has to undergo accumulation. So it was on accumulation phase
4) To know the of accumulation check the .
5) After a mark up move, we did not smart money involvement in down move. as marked by the white curve. This is possibly that they absorbed all the supply on the whipsaw came on 23rd and 24th July.
So according to me the stock is set to move up. We can test the accumulation zone once.
Very Long Term Positional Buy can be done, with a stop loss of 520. I don't think stop loss is needed since it is investment.