Monday, June 17, 2013

Bajaj Auto


Bajaj Auto is moving in a downward channel for almost 1 and half month. Stock looks bullish from last two days. Stock closed above daily PSAR value indicating bullish signs. If stock moves out of this downward channel tomorrow then buy the stock for targets of 1868/1901. Go Long with SL at 1756 in Futures.

One can also go long in options if stock gives breakout using 1800 CE and 1850 CE.

Auto Index looks strong and may have another 30 to 40 points upmove for which Bajaj Auto stock may help.

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