Hero Honda: The stock on technical chart shows follow-up buying. It is trading 5.65 per cent higher at Rs 3,210 over its previous close. The oscillator indicator relative strength index (RSI) has made a positive crossover in the intra-day scale with strong volumes. Stochastic is also showing a rise after positive crossover yesterday, as per chart patterns. Once it is able to move above its 100-DMA, it can scale up to Rs 3,316 levels, which also is its 200-DMA.
TVS Motors: The stock is in a consolidation phase as per daily chart. However, there is a volume breakout today. Since November, the stock has been range-bound between Rs 525 - Rs 560 levels. On an intraday basis, it now appears to be moving towards its 200-DMA located between Rs 568 - Rs 569.
Tata Motors: The stock has witnessed massive selling pressure, drifting 60 per cent lower from December 2017. The weekly scale indicates RSI trading in oversold region at 29 along with MFI (Money Flow Index) located at 21.
Maruti Suzuki: The stock strongly held the support of 50-DMA around Rs 7,195- Rs 7,180 on the daily chart. The gap down level of Rs 7,520 is where it is facing selling pressure and is the next level one should keep a tab on. The stochastic has moved above oversold region, trading at 39 in the daily chart.
M&M: The stock has broken out of the consolidation of Rs 715 – Rs 805 levels. The Moving Average Convergence Divergence (MACD) is in the process of positive crossover below zero line. The stock can face selling pressure at higher levels.