Budget stock: Bajaj Finance share price to give 8 pct returns in one month, say experts
Budget 2019 stock Bajaj Finance is definitely a share to buy as the counter is at an all-time high but still showing fresh buying to scale another high, say experts.
Budget 2019 is just two days away and captains of India Inc are busy pressing their demand from the Finance Minister Nirmala Sitharaman but in regard to the markets, the pre-budget rally has regained once again. while investors are doing speculations as to what the Modi 2.0 Government would be announcing on July 5, stock market experts are busy finding out the budget 2019 stocks. Bajaj Finance is one such stock that share market experts are highly bullish upon. As per the market experts, Bajaj Finance share price may show Rs 3,900 to Rs 4,000 per stock levels in two to four weeks means maxim one month. Currently, the counter closed at Rs 3,690 per stocks on Monday.
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Speaking on why Bajaj Finance is a budget counter Chandan Taparia, Derivative & Technical Analyst, Motilal Oswal said, "Bajaj Finance is a budget share because the majority of the investors who invest in this stock are salaried people and the counter has shown little movement in the recent topsy-turvy stock market ahead of the budget." On the outlook of the budget share, Chandan Taparia of Motilal Oswal said, "Bajaj Finance share price is expected to touch Rs 3,900 to even Rs 4,000 per stocks in two to four weeks. So, if someone has bought this counter should continue to hold the stock for the target of Rs 3,900 to Rs 4,000 while those who are looking to find out an investment opportunity in the Indian stock market, they can buy the counter at current levels maintaining a stop loss at Rs 3,585 per stock levels." He said that fundamentals of the counter are strong and the counter will show brisk rise if some relief being announced by the Finance Minister to the salaried class in budget 2019 on July 5th.
Standing in sync with Chandan Taparia's views Simi Bhaumik, a SEBI registered technical equity analyst said, "Bajaj Finance is definitely a budget 2019 share to buy as the counter is at an all-time high but still showing fresh buying and scale another high." She said that those investors who already have this share in their kitty should hold it for few more weeks as the counter may show further upside post-Budget 2019. "The counter has strong support at Rs 3,500, if there is some correction, people should further added on rather getting panic from the profit booking in Bajaj Finance counter."
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