Strategy on Bajaj Finance
Buy Bajaj Fin Feb 5,700 Call at Rs 164
Stop-loss: Rs 90
Target: Rs 280
Lot Size: 250
-- Long build-up was seen in the Bajaj Fin Futures’ where we have seen 16 per cent (Prov) rise in the Open Interest with price rising by 5 per cent.
-- The stock price has broken out on the daily chart with higher volumes
-- Oscillators like RSI and MFI are showing strength in the current uptrend
-- Plus DI is trading above minus DI while ADX line is placed above 20, Indicating momentum in the stock
Disclaimer: Nandish Shah is Technical Research Analyst at HDFC Securities. He doesn't hold any position in the stock. Views are personal.
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