Tata Motors, Eicher, Maruti: Will auto shares breakout for bigger gains?

Automobile shares may breakout after crossing significant resistances

NIFTY AUTO INDEX
Likely target:  11,600 (after crossing 50-DMA)
Upside potential:  4%

Although, the index managed to hold the 200-day moving average (DMA) support at 10,500 levels, until the resistance of Rs 11,150 does get conquered, its 50-DMA, the positive bias may not show accumulated bullishness. And when it crosses the resistance mark, the breakout may head in the direction of 11,600 levels, as per the daily chart. The immediate support comes at Rs 10,800 levels, which is its 100-DMA. CLICK HERE FOR THE CHART

Eicher Motors Ltd (EICHERMOT)
Likely target:  Rs