Trade Idea of The Day - Bajaj Auto Ltd Target Rs. 150 - Religare Broking Ltd
Bajaj Auto Ltd
BUY 28 JUL 10500 CALL Entry Range 216-222 Target 150 Stop Loss 340
Rationale
1. Bajaj Auto has reaffirmed its bullish structure by witnessing a decisive breakout from a flag pattern within a wellestablished primary uptrend after successfully defending its long-term EMA.
2. The upside breakout is very well supported by rising volumes, reflecting strengthening buying interest and enhancing its credibility.
3. Price action continues to maintain a consistent pattern of higher highs and higher lows, confirming sustained trend strength and indicating that demand remains firmly in control.
4. Momentum indicators, including RSI and MACD, remain positively aligned, signaling improving momentum and the potential for further upside.
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