Buy bajaj auto above 3924 for the target of 4000 and 4121. After a very long consolidation, The Auto stock is showing bullishness so keep good Auto stock on your watch list.
Disclaimer This is only for educational purposes, Please do your own analysis before investing hard-earned money.
Forming a flag patter, breakout might happen on upper side, look out for auto index cross 10900.
Stocks to watch out for if we see a bull run in auto stocks :
4) Ashok Leyland
I am particularly bullish on M&M.
Disclaimer : Bought M&M at 794
As per Maruti / M&M spread chart. Maruti could outperform M&M from here onwards. A retest of 9 is possible provided 8.20 is not breached.
The pair chart is suggesting Maruti will rally more and fall less than M&M
Pair Spreads are high risk management set ups. They are not to be done in isolation but in sync. Those not affluent with them should refrain.
Buy Bosch if it close above 13650 (Safest Entry) stoploss 11910 Target 16000 to 16250
aggressive entry above Downward Trendline Breakout with few quantities.
study : Stock is forming Inverse Head & Shoulder Pattern near Downward trendline...if it breaks we can see 15-20% upside movement in this stock.
The daily chart shows a beautiful wedge pattern with a tilt towards upward breakout. The weekly chart has shown a MACD uptick yet again and with closing above a strong resistance with good volumes the short term perspective is bullish.
Key Resistance at 6550,6620 and 6750.
Key Support at 6150 and 6000
It's at trendline support making an inside bar after it got beaten down due to bad numbers.
Risk reward is favourable for bullish view. Let's what price action brings for this one
Buy above 48.6 with SL at 46.8 for 52-54
Sell below 46.8 with SL at 48.6 for 42