Go long in Bajaj Auto, says Siddarth Bhamre

Siddarth Bhamre of Angel Broking told CNBC-TV18, "Last entire quarter, we have been very negative on two-wheeler space from trading perspective. We have been shorting them but Hero Motocorp since last week and Bajaj Auto from this week, we are turning mildly positive and there are lot of short positions which are standing especially in Bajaj Auto."

"Bajaj Auto is taking good support at round figure of psychological level of Rs 2,000 and is showing traces of bounce. Technically also there is a reversal, which we can see in the momentum indicators. So the stock is a good buy for a decent bounce back. So one should go long at current level with a target of Rs 2,130 and stop loss at Rs 1,998," he said.