 "Nifty view and stock recommendation by Prabhudas Lilladher: Buy Bajaj Auto")
NIFTY VIEW
Nifty has got its daily trend turned up after 3 days, while weekly and monthly continue to be down. Nifty for now has taken support of 10,750 to attempt for an inverted head & shoulder pattern. The support for the week is seen at 36,320/10,730 while resistance is seen at 37,600/11,150. Bank Nifty would have a range of 26,580-27,870. HDFC Bank looks promising from here on along with Axis. Metal and Auto sector too have shown signs of bounce back.
Stock recommendation:
Stock recommendation:
BUY BAJAJ AUTO
CMP: Rs 2,839.35
TARGET: Rs 3,100
STOP LOSS: Rs 2,720
CMP: Rs 2,839.35
TARGET: Rs 3,100
STOP LOSS: Rs 2,720
The stock has been consolidating near the 2,780 levels for quite some time and currently has indicated a breakout above the range and also above the significant 200DMA to signify strength and has potential to rise further in the coming days. The RSI has turned positive and with also with favourable indicators supporting our view, we recommend a buy in this stock for an upside target of Rs 3,100 keeping a stop loss of Rs 2,720.
=====================================
Disclainer: The views expressed are the author's own. The analyst may have positions in one or all of the above mentioned stocks.
=====================================
Disclainer: The views expressed are the author's own. The analyst may have positions in one or all of the above mentioned stocks.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%