The stock has given a breakout above the previous peak resistance of 145 levels and has improved the bias with the RSI going strong and we anticipate a further upward move in the coming days. With the chart looking promising and decent volume participation witnessed, we recommend a buy in this stock for an upside target of 165-170 levels keeping the stop loss near 140.
BUY BAJAJ AUTO | CMP: Rs 3,145.50 | TARGET: Rs 3,350 -3,400 | STOP LOSS: Rs 3,030
The stock has been in consolidation for quite some time and currently has made a positive bullish candle pattern in the daily chart to imply strength and has the potential to carry on the momentum still further in the coming days. The RSI has shown a steep rise with a trend reversal and signaled a buy. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 3350-3400 keeping the stop loss near 3030.
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