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Maruti, Bajaj Auto, M&M: Trading strategies for auto stocks as sales slide

Most auto stocks were trading weak on Wednesday on poor sales numbers for March as automakers were forced to suspend operations amid a nationwide lockdown to contain the spread of the coronavirus pandemic. Maruti Suzuki India Ltd (MSIL), for instance, reported 47 per cent year-on-year fall in its total sales during March to 83,792 units. Ashok Leyland and Eicher Motors, too, reported a slump in March sales figures. Here is what technical charts suggest for Nifty Auto index and its key constituents. NIFTY AUTO INDEX: The trend looks weak below 5,000 levels as per the daily chart. .....

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