The Nifty Auto index was trading 1.17 per cent down at 8487.20 around 09:48 am.
Today Market is so cool Steel and Pharma Sector is bullish note but nifty auto index is 1.17 per cent down it's very clear think Tata Motors (down 3.27 per cent), Maruti Suzuki IndiaNSE -1.96 % (down 1.97 per cent) , Motherson Sumi SystemsNSE -2.40 % (down 1.92 per cent) and Apollo...
1) Bounce with double bottom from long term trendline
2) ok result with good accumulation ; currently at trendline
3) Fundamentally apollo tyre biz should have tailwind of lower rubber and crude cost - trades at 13-P/E
4) High sale of CVs in last 2 years will have stronger replacement demand which will have better margins
1) Likely to breakout of triangle pattern as low volume on retracement
2) Navi mumbai hospital which was loss making and eating away profits has now become ebitda positive, likely to boost profitability in near quarters
3) Fortis IHH deal will rerate the healthcare industry
4) RSI above 60 though fallen due to consolidation