Thursday, November 12, 2009

Bear Points: The Auto Sector

In this post i shall put forth my views on Auto sector, the champion of recent rally.

Lets try and put forth things
1. Maruti : Chart has Major Top Head and Shoulder
2. M&M : A Beautiful Ending Daigonal in place
3. TataMotors: Still Strong up, infact has made a Flag formation and is up. Today's candle is a spinning top at the top, if it has to be Bearish is has to be followed by Bear candle, but nothing major on chart for now.
4. Bajaj Auto: Moving up in channel precariously poised at the edge of channel, one push down and that does it.. :)

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
We are all students

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