* On a daily chart, the stock has given a breakout of its range-bound movement with above average volume which indicates a robust upside movement in the counter.
* Moreover, the stock has started to trade above its 21 Days Moving Average which is placed at 5475.40 level which shows a positive trend of the counter.
* Apart from this, after a healthy correction, the stock has managed to pause its downside move at 5000 level which is a strong Horizontal Trend line support which shows a bounce back moves in the counter.
* A daily momentum indicator RSI reading is at 45.35 level with a positive crossover, besides the RSI has formed a Positive Divergence which points out for a positive breath in the stock.
* Based on the above technical structure, we are expecting a good upside movement in the counter in few trading sessions.
Buy Bajaj Finserv Ltd Nov Fut @ 5530.45- 5558.25 Stoploss 5400 Target 5900
To Read Complete Report & Disclaimer Click Here
For More choiceindia Disclaimer http://www.choiceindia.com/disclaimer.aspx
Above views are of the author and not of the website kindly read disclaimer