Auto shares to shift gears soon: Bajaj Auto, Tata Motors can rally up to 9%

The Nifty Auto index can rally towards the 12,500-mark on a breakout above 11,900-level; base support seen around the 11,000-mark.

NIFTYAUTO
Likely target: 12,500
Upside potential:  4%

Technically, the breakout line becomes the support and when it breaks, it becomes a resistance. So is the case with the Auto Index. The level of 11,000 holds a key, and the index firmly holds it. The recent slide saw bullish accumulation and even witnessed a smart recovery around the same mark. Now, any up move above 11,900 could witness a robust breakout towards a new all-time high of 12,500. CLICK HERE FOR THE CHART

Tata Motors Ltd (TATAMOTORS)