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.
Bajaj Auto – Consolidating
TVS Motors – Near the recent highs but 500 a major resistance.
Hero Motocorp – Good base by holding on to recent breakout zone.
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.
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
Balkrishna Inds – Knocking into all time highs !!
Apollo Tyres – Fresh momentum above 135
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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