Auto Stocks Outlook for the week – 28.12.2015 to 01.01.2016
Seen
trading with positive bias; sales data eyed
( www.rupeedesk.in )
Stocks
of major auto companies are seen trading with a positive bias, taking cues
from
the Nifty and led by an uptick in Hero Motocorp. Hero Motocorp, said analysts,
is
on a breakout level and can possibly outperform the Nifty next week as well.
However,
stocks that have already been bullish might just see a small pause. Maruti
will
now be a risky buy because the stock has already seen a lot of big movement.
Compared
with this, Hero looks a lot more attractive.
Ashok
Leyland might see a small bounce-back after a couple of weeks that Haven't
had
good news on the company's stock and quite a way from its current closing
quote.
Stocks
of auto companies will also react to news of their monthly sales numbers
which
are expected on the first day of 2016. December is expected to be a positive
month
for most auto companies, which have doled out big discounts ahead of price
revisions
in the New Year.