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"A bounce in price is expected to take the stock higher towards Rs 3080 to Rs 3100 with a stop loss below Rs 2810," says Mustafa Nadeem, CEO at Epic Research.
Bajaj Auto witnessed a breakout from a bullish continuation candlestick pattern. A double bottom placed at Rs 2750 - 2800 now looks to be a short-term bottom for the stock while a bounce in price is expected to take the stock higher towards Rs 3080 to Rs 3100 with a stop loss below Rs 2810.
At 10:05 hrs Bajaj Auto was quoting at Rs 2,890.35, down Rs 9.55, or 0.33 percent.
It has touched an intraday high of Rs 2,929.00 and an intraday low of Rs 2,881.15.
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