Buy BAJAJ AUTO FEBRUARY FUTURE AT Rs 2,819
Stop loss: Rs 2,790
Target: Rs 2,875
Rationale:
Long build up is seen in Bajaj Auto Futures’ yesterday, where we have seen 1% rise in Open Interest with Price rise of 1%
After a running correcting of nearly 5% from the recent high, stock price reversed northward yesterday from the support level of 200 day SMA to close at four day high.
Momentum Indicators and Oscillators like RSI and MACD is showing strength in the stock.
Stock price is trading above its 5,20 and 200 day simple moving average Indicating bullish trend for the short to medium term.
