Go long in Bajaj Auto on 2-3% dip: Chaturmuhta

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Go long in Bajaj Auto on 2-3% dip: Chaturmuhta

Go long in Bajaj Auto on 2-3% dip, says Ashish Chaturmuhta, VP Derivates and Technicals, IIFL Private Wealth Management.

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Excerpts from Markets Midday on CNBC-TV18 Watch the full show » ALSO READ See previous views by Ashish Chaturmuhta See what other Experts & Brokerages are saying about Bajaj Auto See messages about Bajaj Auto

Go long in Bajaj Auto on 2-3% dip, says Ashish Chaturmuhta, VP Derivates and Technicals, IIFL Private Wealth Management.

Chaturmuhta told CNBC-TV18, "In the index if I have to play then in the auto space Bajaj Auto is well placed. This is one stock where we have seen a very decent amount of long build up. So any dip of another 2-3% should be used to again go long in the stock. I believe that 7-8% upside is quite possible in Bajaj Auto."

He further added, "Apart from that in the IT space also HCL Tech is one counter where we seen a very significant build up of long positions. So this is one counter where another upside of 5-7% is quite possible. But ideally I will wait for a dip till 5300-5320 to add long positions in this counter as well."