Stocks to Watch For Tuesday: BAJAJ CONSUMER CARE LIMITED

Currently, Bajaj Consumer care is trading near its multi support horizontal line and is making double bottom at lower levels. The stock has slipped lower till 355 from where chances of developing of demand are higher and it has been trading in a range bound zone of 340-360.

Positive divergence in RSI on the daily chart and declining histogram in MACD on the weekly chart suggest upside momentum. As long as it sustains above 355, Buy Bajaj Consumer around 355-356 with a stop loss at 340 for the targets of 372-385.

To Watch Daily Stock to Watch :  CapitalHeight

Market Commentary

The 30-share BSE Sensex fell 151.45 points to 36,395.03 and the Nifty50 plunged 54.80 points to 10,888.80.

IOC, TATA STEEL, CIPLA, TATA MOTORS, ZEEL were the top gainers among Nifty 50 stocks while DRREDDY, M&M, ONGC, HINDALCO were the top losers.

News Highlights

•The Indian Banks’ Association (IBA) may again approach the Reserve Bank of India (RBI) to defer provisioning for Infrastructure Leasing & Financial Service (IL&FS) group companies

•Country’s largest power generator NTPCNSE -1.29 % will regulate power supply to Jammu & Kashmir for not clearing Rs 1,985 crore dues. The company has asked to state to clear the pending dues or face blackout.

To Watch Daily Stock to Watch :  CapitalHeight

Leave a Reply