June 03, 2016
Bajaj Auto (NSE Cash)
BUY
` 2540
` 2655 - 2635
` 2840
5-10 sessions
2595
2550
2730
2850
Bullish
Weekly Chart
Source: Falcon (Time - IST 09.40)
This has been one of the outperforming stocks within the ‘Automobiles’ space along with its peers.
After forming a very good chart structure, the stock is on the verge of hitting its new all time high.
The weekly ‘Super Trend’ indicator is in a ‘Buy’ mode along with the ‘RSI-Smoothened’ surpassing the
70 mark, which is extremely bullish sign.
Considering the positive hourly chart structure, we expect a continuation of this upward leg in the near
term.
Thus, we advise traders to buy this stock from current level to a decline up to ` 2635 for a target of `
2840 in coming 5 to 10 trading sessions. The stop loss for this trade set up can be kept at ` 2540.
June 03, 2016
Bajaj Auto (NSE Cash)
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Source: Angel Research
Research Team Tel: 022 - 40003600 (Extn.6552)
E-mail: [email protected]
Website: www.angelbroking.com
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