Bharti Airtel, BSE, Bajaj Auto: How to trade these 3 buzzing largecap stocks

Indian benchmark indices settled with mild gains on Friday on the back of prevailing tensions between India and Pakistan amid muted Q4 earnings. However, trade talks between US and China also supported the sentiments at Dalal Street. BSE Sensex gained 259.75 points, or 0.32 per cent to settle at 80,501.99, while NSE's Nifty50 added just 12.50 points, or 0.05 per cent to end at 24,346.70 for the day.

 

Select buzzing largecap stocks including Bajaj Auto, BSE and Bharti Airtel are likely to remain under the spotlight of traders for the session today. Here is what Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets has to about these stocks ahead of Monday's trading session:

 

Bajaj Auto | Buy | Target Price: Rs 8,001-8,300 | Stop Loss: Rs 7,500

We are observing a sideways movement on the daily charts of Bajaj Auto which gives no clear direction of trend. The stock has good support at Rs 7,750 – 7,700 level. On the upside Rs 7,850 is the immediate resistance. Any move above Rs 7,850 would propel the upside momentum. Hence, one can buy the stock at current levels with a stop loss of Rs 7,500 for a target Rs 8001– 8,300 levels in a couple of weeks.

 

BSE | Buy | Target Price: Rs 6,700-7,100 | Stop Loss: Rs 5,900

We are observing a higher top higher bottom formation on the daily charts of BSE. At present, we are observing a retracement of prior up move. The stock has good support at Rs 6,150 – 6,100 levels. The stock is outperforming the benchmark indices. Even the momentum indicator RSI is positively poised. Combining all the above parameters it is evident that stock may find support at the above mentioned level and resume its uptrend. Hence, one can buy the stock at current levels with a stop loss of Rs 5,900 for a target Rs 6,700 –7,100 levels in a couple of weeks.

 

Bharti Airtel | Buy | Target Price: Rs 1,920-1,980 | Stop Loss: Rs 1,790

We are observing a higher top higher bottom formation on the daily charts of Bharti Airtel. At present we are observing a retracement of prior up move. The stock has good support at Rs 1,825 – 1,800 levels. The stock is outperforming the benchmark indices. Even the momentum indicator RSI is positively poised. Combining all the above parameters it is evident that stock may find support at the above mentioned level and resume its uptrend. Hence, one can buy the stock at current levels with a stop loss of Rs 1,790 for a target Rs 1,920–1,980 levels in a couple of weeks.