Bajaj Auto: Buy: CMP 3135 / Stop-Loss: 3080 / Target: 3300
Stock has given a breakout from symmetrical triangle with above average volumes on weekly charts, which is very bullish for the stock. Currently, the stock is retracing to the vertical up move that was between 3000 and 3200. Our advice would be to buy the stock at current levels and keep a stop loss at 3080.
Hindalco: Buy: CMP 253/ Stop-Loss: 240 / Target: 280
Stock is in a strong IMPULSE uptrend, and has also broken a long term resistance zone with incremental volumes that clearly indicates at bulls are going to command the stock in the long run. Stock can be bought at current level, and should be added further on dips. For the price target of Rs.280.
Mcdowel Holdings: Buy: CMP 2375 / Stop-Loss: 2330 / Target: 2550
Mcdowell: from last few months stock is trading between 2750-2350. On short term and medium term time frames stock has formed an Expanding Triangle Pattern. Such type of patterns generally carry range bound activity and mostly gives respect to its previous support levels. On short term time frames stock is in to the oversold zone. Daily stochastic suggesting at high possibilities of quick pullback to the recent sell off.
Balrampur Chini: BUY: CMP 165 / Stop-Loss: 154/ Target: 180
Balrampur Chini Mills: On Long term and Medium term time frames stock is in to the strong uptrend wave. Stock has formed series of Higher High and Higher low series pattern on daily and weekly charts that suggests at upward continuation of of the stock. With a medium term perspective positional traders can look for buying the stock with price target of 180. Keep a stop loss at 154 for the same.
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