Thursday, May 23, 2013
Bajaj auto is also one of the heavy weight stock in Index and in Auto Index as well. Stock is into sideways and forming triangle. Once stock break out of this triangle it will have good move either side.They way it is trending, it looks stock may give break out on upside.
Watch for break out. Traders who can take risk can buy at 1830 to 1840 levels with SL at 1800
Advise is to wait for price move out of this triangle.
Nifty looks weak and also peer auto stock Hero Motocorp also cracking down, there is a possibility that stock will breach this trend line downwards.Below 1800 go short.