Technical calls from HDFC Securities: Buy Bajaj Finance Futures

Technical calls from Vinay Rajani, Technical & Derivatives Analyst, HDFC securities.

Buy Bajaj Finance Nov Future @ Rs 4,232

Stop loss of Rs 4,100

Target Rs 4,420

Rationale:

-- Higher tops and higher bottoms on the daily and weekly charts

-- Stock price has been taking support on its 20 DMA

-- After 5 sessions of running correction, the stock has resumed its uptrend with rise in volumes

-- Long build-up is seen in the Derivatives Segment

We recommend buying Bajaj Finance Nov Fut at the current market price, for the upside target of Rs 4,420, keeping stoploss at Rs 4,100.

Disclaimer: Views expressed are the author's own. He may have positions in one or more stocks.