Bajaj Auto could be ripe for picking. On Wednesday it closed at Rs 473.75. The day's low was Rs 465.59. The previous low was Rs 467.25. This is a sign that the scrip is bottoming out. The scrip has fallen from Rs 550 to the present level. The historic December 1996 bottom is Rs 440. There is a good chance that the recovery can now come through.What is interesting is the rise in volume in the last two days. It is difficult to say if the volumes have gone up along with sizeable chop in the price due to any FII downloading. But perhaps there is opportunity here round the corner, as the price has refused to go down much. The scrip is oversold highly in the technical charts. Market trend could continue to be weak. Do respect that but if you dare, there is money to make as the scrip will rise to Rs 500, Rs 525 and then Rs 550. Choose stop loss at Rs 440. This is only for the daring and quick footed.
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