Business Standard

Sunday, January 12, 2025 | 07:55 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Auto stocks eyeing breakout; Tata Motors, Bajaj Auto can soar up to 10%

The Nifty Auto index and the key stocks are trading near significant resistance levels while exhibiting sideways movement, upside breakout could see significant long additions.

Automobile investments
Premium

Automobile

Avdhut Bagkar Mumbai
The Nifty auto index has rallied over 15 per cent to a high of 10,673 in the recent rebound. The bullish reversal seems to be witnessing a sideways movement now. Prior the rally, the Nifty Auto index had slipped 21 per cent, dropping to 9,226.

Shares of TVS Motor Company, Maruti, Bajaj Auto and Tata Motors saw approximately 19-21 per cent jump each, from their recent lows in this rebound.

At the current juncture, the Nifty Auto index and the key stocks are trading near significant resistance levels and exhibiting sideways movement, any breakout could see long additions.

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in