Bajaj Finserv looks good for next upmove!

Bajaj Finserv (BAJAJFINV) is in steady uptrend for last one year. The stock made a life high of 1416 recently. The stock i making flags & pennants after each up move for last one year.

After making a high of 1416  recently, the tock is again forming continuation pattern & now looks to start an up move again. all the indicators look to be cooled off the stock looks to have taken support near 1260. Volume also reduced during sideways movement & was low on correction days. So we recommend going long in the stock around 1300 level for targets of 1400 & 1450 with stop below 1260.

Nifty update!

This is what we wrote on Nov 30, in our last free nifty update & now nifty is trading around 8000. Our free update earned more than 400 nifty points in just a period of 10 days. To subscribe contact us on prajfinancials@gmail.com with your contact details & we will contact you.

Symmetrical triangle formation in ACC!

After making an life high of high of 1564.65 in Sept. (ACC) is consolidating in the range of  1350 to 1550 for last 3 months. In this period nifty has risen by more than 5%, ACC has given negative returns.

If we look at the chart, we can clearly see symmetrical triangle formation in the stock. Its a consolidation pattern before starting a new trend up or down. As far a s ACC is concerned, the break out of the pattern comes around 1440 on the downside & 1520 on upside. So if the stock close above 1520 long positions should be initiated for targets of 1580 & 1640 with a stop of 1485. However weekly charts definitely show some strength in the stock which looks to force the stock break out on upper side. So we recommend taking some risk & buying the stock at cmp for targets of 1580 & 1640 with stop of 1458. But if stock tumbles & closes below 1440 then short position can be initiated for targets of 1390 & 1360 with stop of 1480.