March 06, 2017
Bajaj Auto (NSE Cash)
2840 - 2855
14 - 21 sessions
Breakout with a
Source: Falcon (Time: 9:30 IST)
This outperforming stock in the Auto space for many years has undergone some time correction in recent months.
Looking at the weekly chart, it appears that the stock prices managed to form a strong base around the ’89 EMA’ placed
at 2550 and is now on the verge of resuming the higher degree up trend. The daily chart exhibits a breakout from the
‘Downward sloping Trend Line’ with a ‘Breakaway Gap’, indicating strong buying interest right from the opening trade. In
addition, the volume activity has picked up substantially in last three week’s trading range.
Thus, we advise traders to
buy this stock at current levels to a decline up to
2840 for a target of
3030 over the next 14 to 21 sessions. The
stop loss should be fixed at
022-3935 7600 Extn: 6552
March 06, 2017
Last 13 recommendations
CMP Target 1 Target 2 Stop-loss
474 - 478
725 - 732
861 - 867
91.50 - 92.50
140 - 141
1190 - 1200
346 - 349
88 - 89
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552)
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