Bajaj Finserv (₹1,840.45)
Robust uptrend
Bajaj Finserv’s inventory sprang again on the again of the help at ₹1,560 in December. It has been shifting up although the broader market has been dealing with appreciable promoting strain, highlighting the inherent energy of the uptrend. The prevailing worth motion signifies chance of additional appreciation. We anticipate an upswing to ₹2,200 over the following few months.
So, members should purchase shares of Bajaj Finserv now at ₹1,840, and accumulate if the worth dips to ₹1,720. Cease-loss could be at ₹1,550. When the inventory rises to ₹2,000, modify the stop-loss to ₹1,880. At ₹2,100, exit half of the holdings. Then keep a stop-loss at ₹2,000 for the remaining shares. Exit them at ₹2,200.
Redington (₹245.25)
Good upward momentum
Redington’s inventory broke out of a key resistance at ₹225 a few weeks in the past. It prolonged the rally final week too, indicating a powerful upward momentum. The chance for the inventory to submit extra positive aspects is excessive. However, because it had rallied sharply, there might be a minor dip in worth, presumably to ₹230, earlier than the following upswing.
However word that broader bull development will stay true so so long as the help at ₹220 holds. Due to this fact, we propose going lengthy now at ₹245 and shopping for extra shares if the worth softens to ₹230. Place a stop-loss at ₹210. When the inventory surpasses ₹260, path the stop-loss to ₹245. When the worth hits ₹270, revise the stop-loss as much as ₹260. Liquidate the longs at ₹280.
Tata Metal (₹134.40)
Corrective rally to finish
Tata Metal’s inventory has been in a gradual downtrend since July final 12 months after dealing with a resistance at ₹185. By mid-January, it discovered help at ₹125 and has been in an upward trajectory since then. Nevertheless, this upswing is prone to be a corrective rally. The value area of ₹138-140 is a provide zone and the 50-day shifting common resistance lies inside these ranges.
Due to this fact, odds are stacked in favour of bears. Solely a breakout of ₹140 can flip the tides in favour of the bulls. Because it stands, the possibilities are excessive for the worth to drop to ₹115. So, merchants can provoke quick positions on Tata Metal at ₹136. Hold a stop-loss at ₹143. When the worth falls to ₹122, tighten the stop-loss to ₹130. E book income at ₹115.
