Home > Top 5 Lists > Auto Stocks- Bajaj, Ashok Leyland, Tata Motors, Maruti, M&M,TVS, Hero Honda

Auto Stocks- Bajaj, Ashok Leyland, Tata Motors, Maruti, M&M,TVS, Hero Honda

Saturday, September 1, 2007 Leave a comment Go to comments

After steel and real estate sector analysis, I am trying to analyse the auto sector stocks for you.Most of the auto stocks have been in a downtrend for past couple of months. Lets look at some of the top auto stocks and see if they have bottomed out.

Bajaj Auto -The stock fell from 3100 levels in Feb to about 2100 levels in July. The stock seems to have found a bottom at 2100 and is currently facing resistance in the 2450 zone. Once it crosses that, one can expect to see 2600 and 2800 levels pretty soon. On the downside I feel 2080-2100 level should hold. This can be a good contrarian bet from a medium term trading perspective.

Ashok Leyland– I have listed this stock many times in the counter trend ideas. The stock has solid support in the 34-35 region and the stock is not falling below that! The stock has the potential to reach 41-43 levels within a short time frame.This might be a good trading buy.

Tata Motors– This was one of the best countertrend trades in the 610-630 levels.The stock has bounced back to 700+ levels in short time. 730-750 is some sort of resistance in short term. Above 730, the stock can get back to 790 levels. The stock has a decent potential to go back to 950-1000 levels if these hurdles are crossed.

Maruti– This stock looks best to get back into the bullish mode.The stock closed above 850+ levels which was a very high supply zone. Now the stock can quickly zoom to 900 levels and subsequently attempt to take a dash at all time high of 985 levels.To me this looks one of the best in the lot.

M&M This stock also seems to have bottomed out and is ready for a decent bounce to 780-800 levels where is faces some resistance.We will have to watch the stock around those levels.

TVS Motors The stock has bottomed out at 55 levels and is expected to test 75+ levels soon.

Hero Honda The stock is showing signs of bottoming out at 600-610 levels and provides good entry point around these levels for a bounce till 680-700 levels.

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Categories: Top 5 Lists
  1. raja
    Thursday, November 15, 2007 at 3:57 pm

    what is ur view on rico auto

  2. sk10verma
    Monday, October 1, 2007 at 3:47 pm

    What’s your view on Indowind and Pennisula Land, DishTV stocks

  3. hart
    Sunday, September 2, 2007 at 9:36 am

    Tata motors, at < 640, was available at kinda “bhelpuri” price around a week back. This is another auto stock which has potential to make good northward moment.

  4. sagecapital
    Saturday, September 1, 2007 at 11:56 pm

    Sai- I am not aware of the patent issue between TVS and Bajaj, so really can’t comment on it.

  5. sagecapital
    Saturday, September 1, 2007 at 11:05 pm

    Satish-Balaji looks good. The stock faces some resistance at 280 levels and there is a high probability that stock cruises through those levels.

  6. Satish
    Saturday, September 1, 2007 at 10:50 pm

    Sage, I observed Balaji Telefilms’ stock make a strong move last week. Do you think it would be wise to invest in this stock at CMP?

  7. Sai Rohit
    Saturday, September 1, 2007 at 9:49 pm

    There is gulf between Bajaj auto and TVS motors today regarding patent on DTSi.What is the effect of the TVS stock in coming days.Drop a line.

  8. Sai Rohit
    Saturday, September 1, 2007 at 9:46 pm

    Sir,
    There is gulf between Bajaj auto and TVS motors today regarding patent on DTSi.What is the effect of the TVS stock in coming days.Drop a line Sir.

    Regards
    Sai Rohit

  9. hart
    Saturday, September 1, 2007 at 8:05 pm

    Bajaj auto stock should hit 3100 levels once the news breaks. It was an excellent buy at 2100 levels. For people with long term view, it’s still a good buy at current levels. You’re going to see people in media i.e. SEE AN BEE SEE et al. talking about this stock!

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