BajajHind is one of the stocks which has been hammered along with its other peers in the Sugar space.
However the last few days working suggests that there may be what is called a 'selling climax' which usually happens when there is 'unusually' high volume buildup at a low level. This may actually suggest potential bullishness.
Today's candle was a hammer and one can expect that a break above Rs 112 should lead to a corrective rebound. On break out keep a stoploss near to today's low and wait for a target of 130 in short - medium term.
Happy trading !
CA Rajiv D Khatlawala
www.investogyan.com
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