PINC Research positive on Bajaj Hindusthan

PINC Research has come out with its report on Bajaj Hindusthan.

Moving Averages crossover: The combination of medium and long term moving averages used to track the trend is in a bullish crossover. This is a very positive sign. This suggests that the downsides to this stock may be minimal from current levels and the medium term trend is likely to remain positive.

Oversold Oscillator: The medium/long term momentum (Stochastics) indicator is at oversold levels. It is also above its pivotal trigger line which confirms a positive trend. This is supporting evidence that the stock may be heading up from current levels.

Technical Commentary/ Observation: Bullish moving average crossover along with oversold oscillators augurs well for this stock from a medium term perspective. This stock can be bought from a two-three month time frame with a target of around Rs 100.

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