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Bajaj Consumer Care’s stock has been in an uptrend since it support at ₹150 in May. While it crossed over a resistance at ₹213 early this week faced resistance at ₹221 in the last three days. However, end of Thursday’s session, the stock moved past this level.
This increased the chances for a rally on Friday and we expect it to touch ₹230 during the day. That said, there could be a price moderation to ₹220 before a rally. So, we suggest buying the stock of Bajaj Consumer Care at the current level of ₹222.6 and accumulate more if the price dips to ₹220. Place stop-loss at ₹218 at first and move it to ₹224 when the stock touches ₹228. Exit at ₹230.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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