June 05, 2017
Bajaj Auto (NSE Cash)
BUY
` 2770
` 2880 - 2900
` 3110
14 - 21 sessions
Daily Chart
Source: Falcon (Time:
9:30 IST)
Justification:
This two wheeler stock has undergone some corrective phase in the recent past. Last week, we witnessed a modest
recovery after retesting its multiple support zone around the 2750 mark. This support acted as a sheet anchor on several
occasions in last five months and this time too, it did not disappoint the bullish traders.
Today, we are witnessing a
breakout on hourly chart supported by the positive crossover in RSI-Smoothened on daily chart. Hence, we advise
traders to buy this stock at current levels and on declines at `2880 for a target of `3110 over the next 14- 21 sessions. The stop
loss should be fixed at `2770.
Sameet Chavan
022-3935 7600 Extn: 6552
[email protected]
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June 05, 2017
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Source: Angel Research
Research Team Tel: 022 - 4000 3600
Website: www.angelbroking.com
Email: [email protected]
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