BAJAJ-AUTO seen heavy sell off today

March 21 Since the price 2200, Bajaj-auto is continously falling. There are various factors going negative to this stock. Even thou company says they are comfortable with balance books and hedged for 2014, but this is not stopping the stock to come down every day. Srilankan new tax levy is also one of the reason for stock pulling down.

We are bearish on this stock and we recommend option trader to buy put  BAJAJ-AUTO OPTSTK/1,750.00/25 Apr 2013 (PE) at 42 and book profit at 95, with stoploss at 25.