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Buy Bajaj Hindusthan for target of Rs 130-135: Arihant

Posted on: May 8th, 2009 and is filed under Brokerage Recommendations.

MUMBAI: Arihant Capital Markets has advised traders to Buy Bajaj Hindustan for target of Rs 130-135 and keep a stoploss of Rs 88. “The 14 days Moving Average of Bajaj Hindusthan is at Rs 79. On the daily charts, the stock is in buy on RSI and its 14-days RSI is currently at 90 (above 50 is consider to be in strong hands). Bajaj Hindusthan is looking strong on daily chart has formed an Trend Reversal Pattern on EOD chart.

One can buy the stock at Rs 103.35 with closing below stop loss of Rs 88 for a target price of Rs 130-135,” said the technical note.

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