BajajHind - turning sweeter!

The Nifty not only filled the gap created on the 'vote of confidence' day (I had indicated on Friday that it would try to fill the Gap) but also closed well below it at 4185. Consider 4265 as crucial level of resistance now. Below that level, assume the short term trend to be weak. And yes, my advanced course students were already aware 'why' I had indicated short selling below 4380!

Coming to scrip specific moves, I presume sugar stocks are likely to outperform the market. BAJAJHIND is one such stock which can become positive in a corrective upmove in the market.



Immediate resistance is at 160 and I expect that a break above Rs 160.75 should give a target of initially Rs 185-188 and then Rs 200/-. Consider Rs 146 as crucial support for any long positions.

You would notice that Rs 140 is the historical support level for a long time for the stock.

Happy trading!

CA Rajiv D Khatlawala