Thursday 8 December 2016

Bajaj Auto Ltd– Downward Sloping Trend-line.

Gupta Ghanshyam 02:43:00 No comments :
Bajaj Auto Ltd on a daily chart stock price is making higher high and higher low pattern with increase in volumes. indicate rally will continue towards north. On chart, we witnessed stock price Rs. 2780 has given the breakout of downward sloping trend line at Rs. 2730 level, show stock price can rally towards previous high swing. Momentum Oscillator RSI has more room left on upside, which further add bullishness into stock price.

If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 2780 for the target of Rs. 2920/3018 levels, with Rs. 2720 stop loss on closing basis.

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