Buy Bajaj Auto, says Sudarshan Sukhani

Buy Bajaj Auto, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Bajaj Auto is one of the better charts. When we talk about the morning trade, it is always important to remember context. If the Nifty opens lower and starts drifting and cracks 5,680 then the buying side of the list is not going to work out. So, short-term traders who trade on day-to-day basis must remember the context when they trade. However, if Nifty is little stable, Bajaj Auto is likely to be an outperformer. I would be a buyer here. In any case there is a reverse message always. I would not consider selling it."

At 10:59 hrs Bajaj Auto was quoting at Rs 1,974.95, down Rs 48.50, or 2.40%. It has touched an intraday high of Rs 2,035.00 and an intraday low of Rs 1,966.60.

The share touched its 52-week high Rs 2,228.95 and 52-week low Rs 1,530 on 03 January, 2013 and 18 July, 2012, respectively. Currently, it is trading 11.4% below its 52-week high and 29.08% above its 52-week low. Market capitalisation stands at Rs 57,148.54 crore.