Bajaj Auto : Ready for HoodiBaba Ride !!

Bajaj Auto has given first indication of bull run when it closed above 2900 on weekly basis which started higher top higher bottom series. Counter has corrected after touching high of 3050. 38.2% retracement of entire rally from 2450 -3050 comes at 2825. 2810-2825 zone should provide support for next bull run. Stochastic has entered into oversold zone but yet to turn bullish. Opportunist can buy at 2825 with stop loss below 2720 for target of 3200. Trend follower can wait for reversal on stochastic and ADX.

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Stock posted low of 2831 on 3rd April and then then posted high of 3149 on 17th May 2019. Our call didn't initiate by just Rs 6. but our view was right