This analyst recommends buying Bajaj Finserv and HPCL — here’s why

Uttekar predict that this momentum will likely continue, pushing the stock towards the Rs 1,500 level. Additionally, on a weekly basis, Bajaj Finserv has exhibited a strong positive crossover on its 5 and 20 weekly exponential moving averages, accompanied by the RSI (Relative Strength Index) rising above 52.

Uttekar recommends buying Bajaj Finserv futures, setting a stop loss at Rs 1,425 and keeping a target of Rs 1,500. Share of Bajaj Finserv has gained more than 9 percent in last one month.

Uttekar’s second recommendation is HPCL. Over the past 15 trading sessions, HPCL has completed a flat wave pattern, consolidating its price movement. The stock has demonstrated a strong support level of around Rs 255, and from this level, it has experienced an upward surge.

Uttekar project that this wave will continue unfolding, eventually reaching the Rs 275 mark as a positional target. However he added that traders are recommended to adopt long positions in HPCL, with a stop loss set at Rs 256. The stock is up more than 7 percent in last one month.

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