Buy Bajaj Finance, says Shubham Agarwal

Shubham Agarwal of Motilal Oswal Securities told CNBC-TV18, "If you look at the pattern of Bajaj Finance, we did give this call last week and we are again reiterating that. If you look at the overall pattern, it was able to surpass the previous consolidation range which was approximately around Rs 5,600 on the higher side. We expect that the medium-term trend now stands positive for the scrip.""We are extending our target to the level of Rs 6,450 and given the fact that we have already seen good follow up buying happening there and volumes are rising after a breakout, so we expect that the medium-term trend should be there in action. This can be participated with a stoploss at Rs 5,580 which is the pattern breakout area and Rs 5,600 was already an important level to watch earlier which now becomes a good support." "So with a target of Rs 6,450 and a stoploss of Rs 5,580 we expect that this could be a very good short-term idea to go and buy," he said.