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 view that the stock has confirmed a major range breakout which resembles a bullish Cup n Handle pattern. The price action is supported with rise in volumes.
Hence, we revise our view and advice traders to keep holding the stock or buy the stock near Rs 174 mark with a strict stop of Rs 155.
(Mehul Kothari – AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).
Note:- (Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor. The content is auto-generated from a syndicated feed.))
