Automobile Stock Trading Analyzed

After a strong Diwali sales period, shares of companies that make cars are expected to be popular investments. Many car companies had record sales during the festival season, leading to higher stock prices. This has created some exciting opportunities for investors.

Key Points

• Strong Diwali sales boosted car company stocks.
• Investors can target Maruti Suzuki, Tata Motors, Hyundai, and Mahindra.
• Maruti Suzuki: Aim for ₹17,700 with support at ₹16,100.
• Tata Motors: Target ₹445, supported by ₹390 levels.
• Hyundai India: Potential of ₹2,700, backed by ₹2,300 support.
• Mahindra & Mahindra: Aim for ₹3,840 with a key support at ₹3,460.

Investors are watching car companies like Maruti Suzuki, Tata Motors, Hyundai, and Mahindra. Because of the increased sales, these stocks could rise significantly in the coming weeks.

Maruti Suzuki: The stock is currently trading at ₹16,463 and analysts predict it could reach ₹17,700. Key support levels are at ₹16,100, ₹15,700, and ₹15,450. If the stock drops, it’s likely to find support around ₹16,100 or ₹15,700.

Tata Motors: This stock is priced at ₹405 and analysts expect it to climb to ₹445. The stock’s main support levels are ₹390 and ₹370. A cautious, optimistic approach is advised, with the stock aiming for ₹445 if these supports hold.

Hyundai India: Trading at ₹2,319, Hyundai has the potential to increase its price to ₹2,700. If the price falls, it will likely land at ₹2,300 or ₹2,270. The stock’s resistance levels are at ₹2,475 and ₹2,550.

Mahindra & Mahindra (M&M): M&M’s stock is currently trading at ₹3,624 and is expected to rise to ₹3,840. It’s trading at record highs and is seen with a favorable trend, dependent on staying above ₹3,460.

The robust Diwali sales provide a strong foundation for potential gains in these automotive stocks.