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Rajesh V recommends Bajaj Auto for 2-3 days

By Rajesh V

Rajesh V recommends Bajaj Auto
Yesterday as we have mentioned, Nifty opened above 5262, it has confirmed strong support and Nifty should maintained to close in blue.

Reliance and TCS helped to nifty closed in positive. at bottom level of nifty 5270, Banking stocks" rally supported nifty to move higher levels. but at closing banking stocks faced small correction


Nifty for june 22nd: (Refer to chart: Nifty for june 22nd)
Europe markets gained more, nearly 2% us up more than 100 points and all Asian markets in blue includes SGX up 33 points.

So we can expect nifty gap up (30-40 points), use Camarilla pivot level for intra-day trade. If it sustains above 5340 levels which is crucial for bull confirmation and it should be considered as the real strength of nifty without worrying about the global view.

Stocks to Watch:

Bajaj Auto (Refer to chart Bajaj Auto)
In hourly stock chart, this scrip has been trading between Rs 1,295 and Rs 1,335 for last couple of days. As accumulation is evident at bottom levels, it is time to get ready for an up side move.

This stock should be bought above Rs 1,335 with a stop loss of Rs 1,320. The target for the stock is Rs 1,365. Hold this stock for two days with stop loss and target in sight.

Sterlite Industries: (Refer to chart:STER)

From Rs 174 levels this stock slid to Rs 154, therefore, we can expect a pull back from this support level.

This will open an opportunity to buy above Rs 154.50. Put a stop loss at Rs 152, with a target price of Rs 159. The target should be achieved within two days.


Intra day calls:

Buy Tata Motors (risk Rs 12 / return Rs 21)
Above Rs 942
Stop loss at Rs 930
Target 963

Buy BHEL (risk Rs 15 / return Rs 20)
Above Rs 1915
Stop loss Rs 1,900
Target Rs 1935

OneIndia Money DISCLAIMER: The views expressed in this article are the views of the author and do not reflect the views of our company. OneIndia Money does not take any responsibility for any losses incurred by investors who take their cues from the above article.

Read more about: bse stock tips nse sensex nifty
Story first published: Wednesday, June 22, 2011, 9:10 [IST]
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