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21 July, 2018 21:04 IST
Rajesh Bhosale on how to trade in Bajaj Finance, Federal Bank and Dilip Buildcon
Source: IRIS | 15 May, 2018, 05.58PM
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Rajesh Bhosale, Technical Analyst at Angel Broking has recommended trading strategies on Rajesh Bhosale on how to trade in Bajaj Finance, Federal Bank and Dilip Buildcon. He gave following rationale for technical strategies:

1. Bajaj Finance
View-Bullish
Last Close-Rs. 1901.95

''The stock is an uptrend continuously moving in a higher top higher bottom bullish price cycle. On the daily chart, stock prices after a sharp up move from the levels of 1615 to 1967 went into time wise correction phase. The said correction is healthy for the overall uptrend to digest earlier gains. Prices have now seemed to have resumed the primary uptrend with prices closing above the higher side of falling range. The said breakout is supported with a bullish candle and huge increase in volume indicating a continuation of the northward journey. Thus, we recommend buying this stock at current levels for a target of Rs 2015 over the next 5-10 sessions. The stop loss should be fixed at Rs 1840.''

2. Federal Bank
View-Bearish
Last Close-Rs. 86.40

''After the recent high made at 105 levels on 9th May, the stock has witnessed a sharp selloff post its announcement of Q4 results. On the daily chart, prices after a brief pause for two trading session at previous swing low have resumed the downside by breaking the support with big black body candle on the daily chart. In addition, prices are well above 20DMA, 50DMA, and 200DMA which indicate overall weakness in the counter. Moreover, momentum RSI on the daily chart is heading southwards well below the 30 mark supporting the sell call. Thus, we recommend selling this stock at current levels for a target of Rs 78.40 over the next 5-10 sessions. The stop loss should be fixed at Rs 90.40.''
 
3. Dilip Buildcon
View-Bullish
Last Close-Rs. 1204.30

''Post a consolidation in a narrow range of 1100-1190 for last one month; the stock prices seem to have captured the primary uptrend by closing above the higher side of the range. Volume analysis indicates above-average-volume during up move and low volume during corrective moves which suggests accumulation in the stock. In addition, momentum oscillator i.e. RSI is in positive zone supporting the buy call. Stock prices have now entered uncharted territory and with all the above observation a strong upside cannot be ruled out. Thus, we recommend buying this stock at current levels for a target of Rs 1330 over the next 5-10 sessions. The stop loss should be fixed at Rs 1135.''

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