Bajaj Auto may breakout beyond Rs 2550, says Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "Yesterday, Bajaj Auto performed brilliantly but it has reached a resistance zone, very close to the resistance level of Rs 2,550, in fact Rs 2,530 to about Rs 2,550 is a resistance zone for the stock. So we need to see whether it takes out that. If it doesn't, then there could be a minor profit booking but I am not expecting this to fall below Rs 2,480 kind of levels again because the chart patterns shows that there is a possibility that we can see an upside breakout beyond Rs 2,550 going forward."At 11:22 hrs Bajaj Auto was quoting at Rs 2,490.30, down Rs 33.90, or 1.34 percent. It has touched an intraday high of Rs 2,502.85 and an intraday low of Rs 2,470.25.