Technical Analysis of Indian Equities by Nooresh

Sector – 2 Wheeler Autos & Tyre Sector–A Breakout on Cards or Some Flip-Flop before a Long Term Breakout?

The 2 wheeler Auto Stocks have been strong through the recovery and are now testing Pre-Covid resistance zones.

Eicher Motors – A strong recovery after making a classical double bottom. Now testing pre-covid highs.

Eicher Motors

Bajaj Auto – Consolidating

Bajaj Auto

TVS Motors – Near the recent highs but 500 a major resistance.

TVS Motors

Hero Motocorp – Good base by holding on to recent breakout zone.

HeroMoto

Hero Moto and TVS Motors look like leaders for the sector.

Tyre Stocks

All the stock at different stages of resistance and chart patterns.

MRF – A false breakdown and now again trying to break the 60k mark.

MRF

Ceat Limited – Quite a few attempts at 950-970 but a strong base by holding on to recent lows. Good Insider Buying also seen.  Disclosure – Recommended in Technical Traders Club 

Ceat

Balkrishna Inds – Knocking into all time highs !!

Balkrishna

Apollo Tyres – Fresh momentum above 135

Apollo Tyres

Conclusion

Some of them could breakout now , some may do a little flip-flop but structurally looks like a long term trend change in the making.

 

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Article by Nooresh Merani

Nooresh has written 2774 articles.

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