Technical View on Auto Sector Stocks (16th July ‘10)
Technical View on AMARA RAJA BATTERIES
Although the long term trend for the stock is bullish, but for short term its looking weak, it faces support at 191.5 and resistance at 198.30.
Technical View on TATA MOTORS
The stock faces resistance at 824, crossing of this level may take up the stock while it faces support at 785, crossing of this level may take down the stock.
Technical View on HERO HONDA
One can continue to go for sell on higher levels until it closes above 2025 its next support is at 1963. in downside the stock may slip till the levels of 1900.
Technical View on MAHINDRA & MAHINDRA
The stock has crossed our previously said support level, in downside it may slip till the levels of 598-595, with immediate support at 609.5 while resistance at 640.
Technical View on AMTEK AUTO
As mentioned, it is in bullish phase, one can go for buying on dips with strict sl at 169.
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