Automobile Sector: Nifty 500

NIFTY500 Automobile Sector Equi-Weight Index

NSE NIFTY AUTO

What'll be Strong if this strength continues?

• Relatively the Nifty Auto Index is getting weaker. Unable to break out of multiyear resistance at 0.70.

• Opportunities lie among few names of broader Nifty500 Automobile constituents.

ATH%: Price Percentage Above / Below All-time high

RIC(M): Price move relative to NIFTY 100

#TVSMOTOR

• Percentage retracement from March '20 low. It took multiple support at 78.6% level and resistance at a 100% level.

• Currently facing resistance at the zone of 480 -490

• 200 DMA is sloping Up

• Breakout and sustain above 490 are important for the next leg higher or dips near 430 for sideways trading.

#APOLLOTYRE

#AMARAJABAT

• Somewhat Similar to TVS Motors in terms of looking at range and breakout.

• 810 - 820 near term resistance, the target would be 940

• Relatively strong compared to Index

#BALKRISIND

• 4.07% away from the all-time high.

• Position if sustain above 1470

#TIINDIA

• Near Percentage retracement 161.8% (665), this level could act as support in the short term.

• Closed at All-time high