Technical analyst Sacchitanand Uttekar of Tradebulls has provided valuable insights into the day's trading activities, highlighting two notable stocks: Bajaj Finserv and Grasim Industries.

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His first call is on Bajaj Finserv, Uttekar emphasises that the trend remains robust and intact. A fresh breakout from a continuation pattern has occurred, indicating a positive outlook. The pattern target is estimated to be approximately Rs 1,570.

Based on this, Uttekar advises traders to consider establishing fresh long positions. To mitigate risks, a recommended stop-loss level of around Rs 1,406 is suggested.

It is worth noting that Bajaj Finserv shares have witnessed a gain of over 5 percent in the past month, further reinforcing the potential profitability of this stock.

Moving on to Grasim Industries, Uttekar reveals that this stock has already been recommended to Tradebulls' clients. Recent trading sessions have generated significant momentum, leading Uttekar to anticipate further upward movement towards Rs 1,820.

Consequently, he continues to advocate for building long positions in Grasim Industries. To protect against potential downturns, a stop-loss level of around Rs 1,740 is suggested.

However, it is important to acknowledge that Grasim Industries has experienced a decline of more than 1 percent over the past month.

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First Published:Jun 6, 2023 1:00 PM IST