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BUY BAJAJ FINANCE | TARGET: Rs 5,150 | STOP LOSS: Rs 4,325
The recent correction in the markets dragged Bajaj Finance's from the high of Rs 5,800 towards Rs 4,400-mark, resulting in almost 25 per cent erosion in stock price from the top. Post this fall, the stock has found support at the placement of its 200-day exponential moving average (200 DEMA) which could be its demand zone. Also, we are witnessing a ‘Bullish Island Reversal’ candlestick pattern on the daily chart which is a very rare and strong pattern. Hence, traders are advised to buy the stock in the range
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