Auto stocks started off with a bang. Which stocks should you trade?

After gaining 7.2% in July 2022, the bulls are completely dominating auto stocks. Auto Index started the month of August with a big bang. It gained 3% in early trade today.

From the entire auto chain, two-wheeler auto stocks look promising. They provide the best bullish structure on the chart.

Equally weighted two wheeler (2W) index.

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Equally weighted two wheeler (2W) index.

We have created an Equal Weighted Two Wheeler (2W) Index (EW2WI). This is our proprietary index.

Resistance has turned into a support (black horizontal line). Higher High – Higher Low, a bullish structure on the index, provides an excellent buying opportunity for traders and investors.

Golden Cross Bullish Pattern is an indication of a long term bullish trend. Technically, the setup is very fast. Every fall seems like a buying opportunity.

In fact, a break above the yellow dotted line could accelerate the bullish momentum.

These two wheeler stocks are the fastest growing companies in the auto sector.

Investors should be selective in this segment as India’s best two wheeler stocks are already leading the way.

Pick the best fundamentally strong stocks that can be multibagger stocks for 2025.

At present, the BSE Auto Index is trading at the level of 29,500 with a gain of 2.6%.

If you are interested in being a part of my charting journey as I share how to make money from profitable trade setups, join my Telegram channel – Fast Profit Daily.

Disclaimer: This article is for informational purposes only. This is not a stock recommendation and should not be treated as such.

(This article is syndicated from),

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