Sell Bajaj Auto, says Ashu Madan of Religare

[Viren Shah]

Sell Bajaj Auto, says Ashu Madan of Religare.
Madan told CNBC-TV18, "I would like to hedge my portfolio post
yesterday’s sharp recovery because since as I feel that market would
be in a range and we are on the top end of the range, we have to
identify some weak stocks also. So Bajaj Auto has shown some
distribution pattern and inspite of the recovery in the market
yesterday it did not participate in that recovery at all. So I would
say that it has given bearish sign, so I would recommend selling Bajaj
Auto at a current market price of Rs 1,292 with a price target of Rs
1,230."
http://www.moneycontrol.com/news/views/sell-bajaj-auto-says-madan_512889.html
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