Bajaj Hindustan -- bottom formation?

Another stock undergoing prolonged range bound consolidation is bajaj hindustan. As mentioned in charts a breakout past 35 should be a trigger to get in for short to medium term quick ride.

for those who want to pre empt the breakout stock can be bought between 31 to 32 with a stop below 30 and wait for breakout. Risk is of around 5 % and strict stop loss needs to be applied so that any sudden downmove should not cause too much loss.

But as i said earlier, best strategy should be to keep the stock in radar and buy a breakout past 35 for immediate sharp gains.


hi

how does the chart of Shree Renuka look like?

there are fundamental triggers as well in that name

Thanks

renuka seems almost similar to bajaj hind. bottom triangle formation seems to be complete with the breakout. now it seems a small pullback is on.


Hiteshbhai/Tony,

What’s your take on this Bajaj Hindustan now? I am stuck in this stock for quite a long time. Is it better to book loss and move on? or chartwise do you see any upside coming up?

Thanks

Salil

I think the stock still remains in a consolidation phase as the breakout past 35 did not materialise. Instead for the stop mentioned at that time of 30 was triggered.

Now I guess there might be more rangebound moves before any move.

last swing low was around 26.15 which could now act as a stop loss point. Below that 23 levels were earlier 52 week lows.

Or else u can use any upmoves to get out.

If the amount of shares is not too great i.e if it is only 1-2% of portfolio, then one can hold on but if the amount is more in portfolio terms it makes sense to book loss and move on to something with better fundamentals.

As per point and figure charts the stock is in a sell signal and can go all the way down to 24.50-25 where it may find support. I suggest that whenever you buy any stock, buy it above the 50 DSMA and 200 DSMA. The stocks are strong above these moving averages. Further whenever you see the 50 DSMA cutting the 200 DSMA from below, the stock will give a huge break out. Unless the stock moves above 30 there is no chance of it moving up. It may fall further and consolidate.

I suggest that you buy stocks in good sectors which is very important too. For technicals refer this site which is very good and simple to understand.

http://stateofthemarket.net/

http://www.bseindia.com/xml-data/corpfiling/AttachHis/1e780139-6225-48bc-9e02-e4241096a0cf.pdf

ww.bseindia.com/xml-data/corpfiling/AttachLive/3220b383-a9aa-4229-a5d7-c82384f8a172.pdf

Guys any positive impact on bajaj hind after restructuring debt and sale of Lalitpur share ?