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Buy Bajaj Hindustan; target of Rs 80: Aditya Birla Money
Aditya Birla Money is bullish on Bajaj Hindustan and has recommended buy rating on the stock with a target of Rs 80 in its February 14, 2011 research report.
Aditya Birla Money is bullish on Bajaj Hindustan and has recommended buy rating on the stock with a target of Rs 80 in its February 14, 2011 research report.
"Bajaj Hindustan, a perfect Doji followed by a Bullish Engulfing pattern at the lower band of falling channel indicates good buying interest in Bajaj Hindustan. As long as support at Rs 69 holds, the stock could move up towards the upper band of the channel at Rs 80. A breach above Rs 74.25 would also lead to breach of steep falling trend line of last few days confirming the upmove of relief rally towards Rs 80. Further on weekly chart the stock has also found support from at the lower band of large downward sloping channel."
"RSI and Stochastic have both turned up from oversold levels and are now rising. A positive crossover in Stochastic after forming a positive divergence is further supporting our view of an up move. Buy Bajaj Hindustan at CMP and on disp to Rs 72.50 for a target of Rs 80 with stop placed below Rs 70 on closing basis," says Aditya Birla Money research report.
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