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Long

BAJAJ ELECTRICAL May Hit 307 In Short Term

NSE_EOD:BAJAJELEC   BAJAJ ELECTRICALS
Stock is trading below 150 and 200 days moving Average since three months when recently 20 days SMS. Since becoming the near down Zigzag below 274 to 246 will work as the near support for meddle term. More selling can be after breaking given support and being close below it.
Stock creates on quarterly chart a format of rectangle triangle in a down trend which gives a sign of remain unchanged little selling at every high of below near main resistance in the stock. It may show above price 307 more shortly by crossing crucial resistance. Short to long term technical indicators are entered in oversold phase slowly which gives a signs for not making big recession position on the given support.
The boom move beginning from Rs             .28 in the stock (2009) its 50% retrenchment has been completed around Rs             .200 and stock is showing reform every time from the level which trend was continue in 2014 also. Short term investors should invest for the target Rs             .307 from decline Rs             .299 in the stock. At last week; it has given positive close around near the crucial resistance 289 in heavy volatile trend of market.
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