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Bombay Burmah Trading Corporation Ltd (BBTCL): BUY with a Stoploss of 640 and Target of 750

BBTCL is in an uptrend on the weekly charts from the level of 250. The trend is intact, use this correction to enter the stock while it has strength though it appears to be overbought. One can buy overbought stocks as long as they still have steam.

The daily charts, as shown on the left, show a nice re-tracement of about 50% of the run from the earlier pivot low of 390 to the pivot high of 790 to the level of 585.
It is making a nice upmove with higher highs and higher lows from the levels of 585, forming a new pivot low, followed by pivot high of 680 and a higher pivot low of 600.

The stock is in a resistance area. But there are no signs of weakness as bulls look in charge. If it breaks the resistance of 680, it will be on its way to make a higher pivot high, further confirming the upmove and regaining the intermediate uptrend.

If you turn on the Bollinger Bands, you see a squeeze in the making. We may see a big move in any direction. Mostly it is in the direction of the major trend:Up in this case.

Bajaj Hindustan:BUY with a Stop Loss of 170

BUY with a Stop Loss of 170.

The stock is primarily in a downtrend from Mar 06 levels of 550. It looks like it is bottoming out. The downtrendline is broken suggesting an intermediate uptrend on the weekly charts. After bottoming out at 130, it is making higher pivot highs and higher pivot lows. Does not look like a mere rally to me.

There is a breakout rom MA(30) and MA(9). Moreover, the MA(9) is about to cross over MA(30). Also, MACD is forming a bullish crossover. TRIX is looking to get into a positive trend and RSI is showing signs of momentum getting built up slowly.

Bollinger Band squeeze is seen on the daily charts. There are chances of an breakout over 190.
To learn more about what Bollinger Band squeeze is and how to use it to identify breakouts, check out this old post from me in the thread Model charts showcasing patterns