We recommend going long for a positional target of Rs 2,898 in the coming days. The stop loss can be placed at Rs 2,620.
Bajaj Finance has seen a gradual recovery in the last three months after undergoing a massive price correction in the month of September.
The last couple of weeks has been good for this stock and in this course of action; the stock went on to confirm a breakout from its recent congestion zone around Rs 2,650.
In addition, the ‘RSI-Smoothened’ on the daily chart has surpassed the threshold level of 70, which bodes well for the bulls. We recommend going long for a positional target of Rs 2,898 in the coming days. The stop loss can be placed at Rs 2,620.Disclaimer: The author is Chief Analyst- Technical & Derivatives at Angel Broking. The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.