Buy Bajaj Auto Ltd with a target at Rs 3200: Vivek Gupta

Vivek Gupta, CMT, Director Research, CapitalVia Global Research Limited, says the Bajaj Auto Ltd could well test the level of Rs 3,200 if continues to trade above Rs 2,000 in the next 12 months

The Bajaj Auto Ltd stock is on an upward trend and is forming a bullish continuation pattern called 'Symmetric Triangle'. The stock is expected to continue the bull-run with the breakout from the pattern.

Once it breaks out of the pattern some more upside cannot be ruled out. The stock could well test the level of Rs 3,200 if continues to trade above the psychological and major support level of Rs 2,000 in the next 12 months.