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Buy Bajaj Auto, target Rs 3,000: Rupak De

Traders can accumulate the stock in the range of Rs 2765-2775 for the target of Rs 3000 and a stop loss below Rs 2640, says Rupak De of Bonanza Portfolio.

September 06, 2018 / 09:09 IST
Bajaj Auto | The company's earning per share for FY18: Rs 145.80, FY19: Rs 170.29, and FY20: Rs 180.11. The stock price has rallied 44 percent to Rs 2911.45 in FY21 so far.
     
     
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    Rupak DeBonanza Portfolio

    On the daily charts, Bajaj Auto price has started off lower but managed to recoup the entire loss of the previous session. In addition, price found support just above the rising trend line on the daily chart.

    The weekly momentum oscillator, RSI (14) is in positive divergence and currently in a bullish crossover. Traders can accumulate the stock in the range of Rs 2,765-2,775 for the target of Rs 3,000 and a stop loss below Rs 2,640.

    Disclaimer: The author is a Technical Research Analyst at Bonanza Portfolio Ltd. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Moneycontrol News
    first published: Sep 6, 2018 09:09 am

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