BAJAJ FINANCE , amongst the favorite counters to initiate a trade on the long side is seeing a different scenario now. With the 21-day lockdown, consumption has slowed down considerably, and discretionary buying is out of sight. With the economy now slowing down even further, the earlier growth rate is hard to achieve.The stock is having one of the most...
Equitas is trading in a parallel downwards channel. It formed a bearish harami candle on daily charts. Price rejection can be seen from top of the channel. Shorts can be initiated at CMP with easy targets of 100-95-90. Stoploss can be kept at a closing above the upper trendline.
PNB is forming a Descending Triangle, look for opportunities as specified on chart.
Entry : 91.5 - 92 Range (Take Stance after getting a strong closing below given range)
Stoploss : 2.5% (Closing Basis)
Basic Target: 89
Optional ways : Derivatives are best case as expiry is just 7days away.
if you have any queries regarding above idea or...
The weak numbers from auto companies lead to massive selloff in the auto stocks and also auto ancillaries.
Seems the fall would become a bit nimble now.
Below 8750 we may see more weakness towards 8515.