Maruti, M&M, Bajaj Auto: Are auto stocks a good bet at the current levels?

Nifty Auto: The 9500 mark has been very significant point for the index. The moment Nifty Auto index broke this level on the downside, there was heavy selling pressure. The damage has already been done and every rise in the index is being met with resistance. Every consolidation, as per the daily chart, led to a breakdown hurting sentiment generating a sense of bearishness. Till the recent low of 7,821 holds, one can expect some positive bias. That said, the bounce could be short-lived. CLICK HERE FOR DETAILED CHART VIEW

Bajaj Auto Ltd (BAJAJ