Accumulate Bajaj Auto, says Hemant Thukral

Thukral told CNBC-TV18, "Bajaj Auto will continue to show strength. What has happened on Friday is that fresh long positions have been added up. Very importantly lot of short positions has been squeezed out; the clear rollover data is suggesting that. The rollover cost has moved up, it is already showing signs of bullishness as we enter the next contract.”

He further added, “Now maybe due to gap down open today, you may have a gap down of Rs 10-15, that is an area where you can add up. So around Rs 1,575-1,580 one should accumulate Bajaj Auto for a minimum trading target of Rs 1,625 on the upside and keep a strict stop loss of Rs 1,550. That is an area where Bajaj Auto has given a fresh breakout from. So I think that in immediate short-term, Bajaj Auto can be an outperformer among the auto pack.”