Bajaj Auto stock on BSE is rising comfortably on its 50 day moving average since December 2009.
The current volume suggests that as the price is falling towards its 50 day moving average, the trading has decreased. Ideally, this should pick up again in a day or two, on or before reaching the 50 day moving average.
A closer look at the chart shows that each swing from the 50 day moving average is about 125-250 rupees upwards. So, as the price moves upwards again before or on touching the 50 day moving average, this stock can be bought with a target to profit between 125 and 250 rupees.
However, the current chart also shows a bunch of negative candles since the past 3 weeks. The trend overall seems positive but the appearance of this bunch of candles is not a pretty sign. Book short term swing profits on this stock, not a good time to go "too" long.
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