Recommended Stock of the Week (17-25 Feb) 2017 – Bajaj Finserv Limited
Weekly Techno-Funda Report (17-25 Feb) 2017
SHORT TERM PERSPECTIVE
|Rs 3450||Rs 3850/4000||2-4 Weeks|
(CMP – Rs 3675)
Bajaj Finserv Limited is engaged in the business of promoting financial services, such as finance, insurance and wealth management, through its investments in subsidiaries and joint ventures. The Company is also engaged in the business of generating power through wind turbines, a renewable source of energy. Its segments include Insurance, Windmill, Retail financing, and Investments and others. The Company focuses on six categories: consumer lending, small and medium enterprise (SME) lending, commercial lending, rural lending, fixed deposits and value added services.
Intermediate and long term trend is up in BAJAJFINSV. After a sharp upmove stock is trading in a consolidation mode from last one week. It has given a range breakout on daily as well as weekly charts. Due volume rise and strong indication by the indicators, more potential in the stock is seen to move higher levels from current level. So any correction till (3660-3650) could be buying opportunity with a stop loss of 3450 (closing basis) for the target of Rs 3850-4000. Time frame should be 2-4 weeks.
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