Bajaj Finance :
Stock is in downtrend for last two months & has corrected 25% from its recent peak of 5822 hitting 4362 during the week. The sharp fall witnessed was exact 38.2% of recent rally started from 1783. Stock is getting some support now and if trades & sustains above 4860, the positive trend started can continue upto 5270 & above that 5800. However if stock fails to hold 4500 we can witness sharp decline towards 4250-4000-3800.
Bajaj Electric :
Stock is our all time favorite and we recommended investment in this script many times in last one year. For details of previous calls visit below links :
https://stocksbuzzcalls.blogspot.com/2021/02/how-to-trade-lic-hsgfin-jindal-steel.htmlhttps://stocksbuzzcalls.blogspot.com/2020/09/chart-study-shared-with-clients.html when stock was @492
https://stocksbuzzcalls.blogspot.com/2020/06/how-to-trade-voltas-havells-and-bajaj.html
Now when stock is trading around 1136, stock is facing resistance between 1180-1110, and a closing below this range can open further weakness. Fresh entry for 1350-1500 only on closing above 1200.
Bajaj Consumer :
Stock is looking good on charts & tested its 52 weeks highs @324 recently. This level is almost 50% retracement of its long term downtrend from 525 made in Jan 2018 to low 116.55 tested in March 2020. Stock can show fireworks further if trades & sustains above 310-20.
On daily chart stock made bullish inverted hammer pattern, we advised buy around 282 recently with sl 272, stock can test 300-308-20 in short term.
Daily Chart
Bajaj Auto :
Stock is in downtrend for last 2-3 months & has corrected almost 21% from 4361 to 3447, now stock is getting some support but still trading in a small range from 3700 to 3450. Trading above 3710 can move stock towards 3865 and only above that we can expect big move, on the other hand below 3680-40 stock will retest trendline support 3560-3515-3450 and if breaks and sustains below that we can witness sharp fall towards 3200-3000-2800.
