Kumar bullish on Bajaj Auto, Tata Motors, M&M

Kumar told CNBC-TV18, “I am bullish on Bajaj Auto . I think it is down more or less to do some rebalancing but I do not see Bajaj going below Rs 1,480 so I am bullish on Bajaj Auto more than Hero Motocorp. So to me I will buy Bajaj Auto the moment it comes to Rs 1,520-1,515 levels.”

He further added, “I am already bullish on Tata Motors , and I feel the bounce we have seen from weekly simple day moving average, there was a good build up but I think last two-three days there was some profit booking but among all the auto space, I am most bullish in Bajaj Auto. I feel Rs 1,600 levels can be reached. Second bullish stock is Mahindra & Mahindra (M&M), I feel good accumulation and volume pattern suggest a very good buying and on M&M, I am bullish with a target of Rs 720 levels.”

Disclosure: I don’t hold any position in the above mentioned stock."