Here's how the scrips of leading two-and four-wheeler manufacturers look on the technical charts.
Thus far in the calendar year 2019, auto index slipped 21 per cent, against 5 per cent rise in the benchmark index
Lack of demand due to illiquid market and weak consumption appetite led to steep fall in auto-sales
8000 seems to be a point that can witness buying momentum, as it hold the two lows of the double-bottom formation. The index did manage to cross the 8800 mark three days ago, but failed to sustain it
Nifty Auto index gained over 3 per cent in intra-day trade on Wednesday, outperforming the benchmark Nifty50 that moved up around 1.3 per cent to 10,685 in intra-day trade.