Amtek Auto, Bajaj Hindustan, Bharati Shipyard, Bharti Airtel, Dishman Pharma

Amtek Auto, Bajaj Hindustan, Bharati Shipyard, Bharti Airtel, Dishman Pharma

Bajaj Hindustan

Bajaj Hindustan

Bharti Airtel, India Banks, Bajaj Hindustan

Bharti Airtel, India Banks, Bajaj Hindustan

Bajaj Hindustan

Bajaj Hindustan

Hindalco, Ranbaxy Laboratories, Havells, HT Media, Bajaj Hindusthan, India Telecom

Hindalco, Ranbaxy Laboratories, Havells, HT Media, Bajaj Hindusthan, India Telecom

Bajaj Hindustan

Bajaj Hindustan

Bajaj Hindustan

Bajaj Hindustan

Bajaj Hindusthan

We recommend a sell in the stock of Bajaj Hindusthan from a short-term perspective. It is apparent from the charts that after taking support at around Rs 40 in March 2009, the stock began to trend upwards. However, it encountered significant long-term resistance at around Rs 240 in October 2009 and started moving sideways. Though the stock re-tested this resistance level in early January, it failed to break through. Since then, it has been on a short-term downtrend. This downtrend got accelerated as the stock tumbled 6 per cent on January 19, penetrating the intermediate-term up trendline and 50-day moving average. The daily moving average convergence and divergence indicator has signalled a sell and is slipping towards negative territory. The daily relative strength index (RSI) is on the verge of entering into the bearish zone from the neutral region. We are bearish on the stock from a short-term perspective. We expect its decline to continue until it hits our price target of Rs 190. Traders with short-term perspective can consider selling the stock while maintaining stop-loss at Rs 222.

Bajaj Hindustan

Bajaj Hindustan

Bajaj Hindustan

Bajaj Hindustan

Infosys Technologies, Bajaj Hindustan

Infosys Technologies, Bajaj Hindustan

BREAKING - Bajaj Hindustan to buy Balrampur Chini

BREAKING - Bajaj Hindustan to buy majority stake in Balrampur Chini

Bajaj Hindusthan

We recommend a sell in Bajaj Hindusthan from a short-term perspective. It is apparent from the charts that the stock bottomed in March around Rs 40. The uptrend accelerated in May and this rally prolonged until late June. However, after encountering resistance in the band of Rs 230 and 235, the stock reversed direction. Since then, the stock has been on a medium-term downtrend. After breaking through the key support level of Rs 200 (turned in to key resistance) in early June, the stock failed to surpasses this resistance level twice. Reinforcing the downtrend, the stock breached its 21- and 50-day moving averages recently. The daily relative strength index is declining towards the bearish zone and weekly RSI has slipped to the neutral region. Moreover, the daily moving average convergence and divergence indicator are signalling a sell and are hovering in the negative territory. We are bearish on the stock from a short-term perspective. We expect its decline to continue until it hits our price target of Rs 157. Traders with a short-term perspective can sell the stock while maintaining a stop-loss at Rs 184.

via BL

Bajaj Hindustan

Bajaj Hindustan

Bajaj Hindustan

Bajaj Hindustan

Bajaj Hindustan

Bajaj Hindustan

Bajaj Hindustan

Bajaj Hindustan

Bajaj Hindustan, Balrampur Chini, Triveni Engineering

Bajaj Hindustan, Balrampur Chini, Triveni Engineering

Today's Pick -Bajaj Hindusthan

We recommend a buy in Bajaj Hindusthan from a short-term perspective. It is evident from the charts of Bajaj Hindusthan, that following a steep fall from Rs 399 to Rs 117 in short period of nine trading sessions (from January 9 to 22), the stock found support and began to move up.

The up-move that followed retraced more than 50 per cent (fibonacci retracement number) of the steep decline recorded in January. The stock’s 13 per cent jump on March 11, from the 200-day moving average adds strength to the uptrend.

The daily momentum indicator of the stock also bounced off from the 40 level and is rising in the neutral region towards the bullish zone. Moving average convergence divergence indicator is likely to enter the positive territory. We are bullish on the stock in the short-term. We expect the stock’s current uptrend to continue further to our target price level of Rs 270 in the short-term. Investors with a short-term perspective can buy the stock while keeping the stop-loss at Rs 214

Via Business Line

Bajaj Hindustan

Bajaj Hindustan