Bajaj Auto Limited:
A clear formation of five waves of Elliott impulse has been observed in the stock price movement during the second half of the year 2012. Further formation of A-B-C pattern as Elliott correction is expected in a span of month (medium term). An intelligent advice from me could be to go short 2 lots of Feb 2013 future derivative of the stock after formation of Wave-b around Rs. 2100 and try to square it up near Rs. 1820 (i.e: 280x2(125)= Rs. 70000) [Advised SL: Rs. 2200]
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