Buy Bajaj Auto on verge of giving breakout: Religare

MUMBAI: Birendrakumar Singh, technical analyst, Religare Securities is of the view that Bajaj Auto on verge of giving breakout. It has advised to initiate long positions in the stock.

“Bajaj Auto has been trading side ways and formed a “Cup and Hande” pattern. The stock is on the verge of giving a breakout of the pattern. Initiate long position and maintain a stop-loss of Rs 1470 levels for target of Rs 1515-1525.

Note: Trading idea valid for time-period of 4-5 sessions.