As exptected in yesterday's post, Bajaj Auto went back up again after reaching its 50 day moving average today. The market opened gap up and ended up at 1510.95.
The volume is average, other technical analysis indicators are looking up. This means the stock is about to make another short term upswing.
Go long on Monday market opening. There is no target, but put a stop at 1462. Sell when the stochastics blue line crosses the red line, or the RSI starts falling back (preferably when RSI is falling back from above the oversold level of 70%). The small swing should last 4-7 days, as is seen in the recent past. Keep a watch on these indicators daily if you go long on Bajaj Auto on NSE on Monday market opening.
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