Avoid bargain hunting in Hero MotoCorp: Vijay Bhambwani

In a chat with ET NOW, Vijay Bhambwani, Author, CEO, BSPLindia.com (Technical Check) talks about Hero MotoCorp.

A quick word on what would Bajaj Auto and Hero MotoCorp do from these levels, 1510 and 3% down for Hero MotoCorp?

I expect them to remain under pressure due to the share overhead supply that is likely to come in the absolute near term. Bajaj Auto might just seek support at 1488 or 1490 levels. I am talking about the next trading session or 2 and as far as Hero MotoCorp is concerned, that is also likely to remain under pressure from the sheer overhead supply. One needs to stay away in terms of attempting to bottom fish from here because Hero MotoCorp can actually go down to 1810 or 1815 levels in the trading session today or tomorrow. So avoid bargain hunting here.