Jul 10, 2006, 04.12 PM IST | Source: Moneycontrol.com

How to play frontline auto stocks now?

With the auto numbers around the corner, how well are the big players expected to fare in the market? Experts give their opinion on frontline auto stocks and how to play them going forward.

With the auto numbers around the corner, how well are the big players expected to fare in the market? Experts give their opinion on frontline auto stocks and how to play them going forward.

On Tata Motors & Maruti Udyog:

Technical analyst E Mathew says that last week both Tata Motors and Maruti were looking good. But now, he says that they are both hitting major resistance zones.

"It looks like they could slide a bit. Right now the time does not seem right to buy Tata Motors or Maruti, maybe on declines," he explains.

Disclosures: My associate companies and I do not hold any stocks, which we discussed but clients may be holding long or short positions, which I am not aware of.

On Hero Honda and Bajaj Auto:

Ambareesh Baliga of Karvy Stock Broking believes that  Hero Honda does not look too positive now.

Baliga expects margins of the company to decline going forward. He thinks even  Bajaj Auto  does not look too good.

Baliga says, "We have been asking our clients to keep selling both these stocks on their way up."

Disclosures: No disclosures personally, but my clients might have been holding the stocks we discussed.

 

 Stock  Open: 10 July 06  CLose: 09 Jun 06  % Change
Tata Motors  Rs. 772.05  Rs. 756.50  2.05 % (UP)
Maruti Udyog  Rs. 782.00  Rs. 764.65  2.26 % (UP)
Hero Honda  Rs. 750.00  Rs. 752.40  0.31 % (DOWN)
Bajaj Auto  Rs. 2750.00  Rs. 2480.55  10.86 % (UP)

 

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