Escorts, Ashok Leyland: 5 commercial vehicle, tractor makers you can buy

Here are five stocks from the auto sector that look bullish on the charts.

Ashok Leyland Ltd (ASHOKLEY): The counter has reached its resistance level of 200-day moving average (DMA) and 50-weekly moving average (WMA), as per the daily and weekly scales. Going forward, if the range of Rs 63 to Rs 64 is conquered on good volumes, which is also around the 200-DMA and 50 WMA levels, the stock can then hit Rs 80. There is a strong support at Rs 55 on a closing basis. The Moving Average Convergence Divergence (MACD) has crossed the zero line, which is a signal that Ashok Leyland can gain ground in the weeks ahead. CLICK HERE FOR THE CHART

Escorts Ltd (ESCORTS): After hitting a new all-time high, the stock is in a consolidation phase now. The levels of Rs 1090 to Rs 1080 are likely to act as a strong support for Escorts. For an index or a stock where price scales a new high and lower levels witness buying momentum indicate that a strong upward breakout is in progress. The trend suggests Escorts is heading towards Rs 1,200, which is an immediate target which once hit can take the counter towards Rs 1,400 levels. CLICK HERE FOR THE CHART

BEML Ltd (BEML): The stock is gradually rising towards Rs 757 levels, which is its 200-DMA. Once the stock gains momentum after the resistance of Rs 700 is take out decisively, the rally may see it move towards Rs 810 levels. The volumes have remained highly volatile, but supportive of upward rally. The stock has been in an uptrend with 50-DMA crossing the 100-DMA, signalling an upward bias. CLICK HERE FOR THE CHART

VST Tillers Tractors Limited (VSTTILLERS): A “Golden Cross” around Rs 1,440 levels has pushed the price in upward momentum, which is now gathering more strength. Volumes have been good above the Rs 1,500 mark. This shows interest from the market participants, who are willing to take positions at higher levels. The immediate support comes at Rs 1,560 and Rs 1,520 levels. The trend is bullish with upside towards Rs 1,800 levels. CLICK HERE FOR THE CHART

Tata Motors Ltd (TATAMOTORS):  As it conquers 200-day moving average (DMA) with the Relative Strength Index (RSI) entering overbought territory, some profit booking is visible. That said, the up trend remains intact and with these mild corrective moves, the counter is set to climb Rs 160 in the near future. The support stays at Rs 124 and Rs 120 levels. CLICK HERE FOR THE CHART