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Auto stocks eyeing breakout; Tata Motors, Bajaj Auto can soar up to 10%

The Nifty Auto index and the key stocks are trading near significant resistance levels while exhibiting sideways movement, upside breakout could see significant long additions.

Automobile investments
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Automobile

Avdhut Bagkar Mumbai
The Nifty auto index has rallied over 15 per cent to a high of 10,673 in the recent rebound. The bullish reversal seems to be witnessing a sideways movement now. Prior the rally, the Nifty Auto index had slipped 21 per cent, dropping to 9,226.

Shares of TVS Motor Company, Maruti, Bajaj Auto and Tata Motors saw approximately 19-21 per cent jump each, from their recent lows in this rebound.

At the current juncture, the Nifty Auto index and the key stocks are trading near significant resistance levels and exhibiting sideways movement, any breakout could see long additions.

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First Published: Mar 25 2022 | 12:58 PM IST

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