11 September 2019

AUTO ARE WE HEADING FOR MEGA BULL AMID WORST NEWS?

Hi Friends,

While everyone is cribbing about the slowdown in Auto are we heading for Mega Bull Run in next 3-5 years?

Since the start of 2018 Auto Stocks have been in Downtrend and have declined more than 50-60% from the Top. Auto Sales are at the lowest and everywhere we are hearing about the worst News for Auto.

But is it not the Right Time to Buy Auto Stocks for Investing. We suggested Buy in Auto in Aug 2019 Based on the Charts.

Auto stocks Tested Major Long Term Supports and showing signs of Recovery. The Long Term Wave Count on Auto stocks suggest a Mega Bull Run Ahead.

Posting Below Charts for CNX Auto Index and few Stocks.

CNX Auto Index



Maruti



Tata Motors



Ashok Leyland



Motherson Sumi Systems



Escorts Ltd.



Ceat Ltd.



The Auto stocks still need to come above the Moving average on Monthly TF for Uptrend reversal. Still it's a good opportunity with low risk.

One must Study on own before investing in stocks.


Thanks & Regards,

Harsh Dixit.