BUY BAJAJFINSV with short term holding target of 5625
Peaking out in the month of September 2017, the stock has not made any significant gateway since then. Presently, it has formed a double top at 5440 levels and is attempting to break out of this formation. Weekly RSI marked a fresh 14-period high which is bullish . Weekly MACD has shown a positive crossover and it is now bullish while trading above its signal line. Though prices have closed above Bollinger Band on both Weekly and Daily Charts , some mild pullback inside the band is likely. However, the stock is showing strong undercurrent and we may see upward revision in prices over coming days.
Milan Vaishnav, CMT, MSTA
Consultant Technical Analyst,
Gemstone Equity Research & Advisory Services
Consultant Technical Analyst,
Gemstone Equity Research & Advisory Services
singhankit
Sir the stock is currently at 5316 levels.. Is the pullback over or is it more?
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Milan_Vaishnav_CMT_MSTA
singhankit
@singhankit, It is the throwback that it is suffering. Almost over. The SL should be placed at 5250
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singhankit
Milan_Vaishnav_CMT_MSTA
@Milan_Vaishnav_CMT_MSTA, thanks for the reply. sir the stoploss shd be on closing basis or intraday basis??
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Milan_Vaishnav_CMT_MSTA
singhankit
@singhankit, Close
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singhankit
Milan_Vaishnav_CMT_MSTA
@Milan_Vaishnav_CMT_MSTA, why does the stock throwback so strongly??
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