Bajaj Hind, bottomed out by posting an intra-week low of Rs. 115.55 during the week ended 24th August 2007. The scrip launched into an intermediate uptrerid, posted a series of progressively higher tops and bottoms and rallied to peak at an intra-week high of Rs. 199.00 during the week ended 28th September 2007. Bajaj Hind, couldn’t sustain these levels for long, declined to post an intra-week low of Rs. 144.25 during the week ended 12th October 2007. The scrip commenced its uptrend, from here, rallied after almost receiving support from the 55 Week EMA, started moving within the confines of an upward sloping channel, rallied to peak at an intra-week high of Rs. 399.50 during the week ended 11th January 2008 only to enter a deep corrective phase. The scrip rallied to peak at an intra-week high of Rs. 241.80 during the week ended 23rd October 2009. Currently Bajaj Hind, seems set to stage a upmove after what can only be described as a weekly correction, the mechanical indicators are supporting the move and with even the weekly picture looking better, a further upside from these levels cannot be ruled out.
Trading Pointers:
ndicators : MACD-Buy RMI-Buy Stochastic-Buy ROC-Buy RSI-Buy
Support: 222, 195 Resistance : 242, 262
BSE Code -500032 55 Week EMA: 157.90
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