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Mehul Kothari recommends to buy Bajaj Finance, Redington; Check Why

The technical analyst from Anand Rathi has reiterated the Buy call on Redington (India) with a higher price target of Rs 210; Also, expects Bajaj Finance to rally to Rs 7,060.

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Mehul Kothari Mumbai
BUY
Bajaj Finance
Buy Near: Rs 6,760
Target: Rs 7,060
Stop Loss: Rs 6,600

After a decent correction, the stock has found support at the placement of 200-day moving average. On the weekly scale, we are witnessing a bullish hammer kind of formation which indicates possibility of bounce.

Currently, the risk reward looks favourable for going long. Thus, we advise traders to buy the stock near Rs 6,760 with a strict stop of Rs 6,600.

BUY
Redington (India)
Buy Near: Rs 174
Target: Rs 210
Stop Loss: Rs 155

Few days back we recommended Redignton near Rs 162 for target price of Rs 178 and that is almost reached. We reiterate our