Bajaj Auto, Hero MotoCorp, Sona Comstar were among automobile sector stocks facing bearish trend in today's trade. Bajaj Auto stock declined 5 percent today and the stock has lost nearly 18 percent in just one month. Bajaj Auto shares are down by 32 percent over the last six months. Hero MotoCorp also declined 3.3 percent today and touched yearly lows. The stock touched 52-week lows in today's session. Sona BLW Precision stock also touched 52-week low in today's session and the stock closed 2.5 percent lower compared to previous close. Tata Motors managed to close almost flat while other automobile stocks were under pressure. TopNews Team has reviewed technical levels for traders and short term investors. Markets are currently facing bearish sentiment and BUY trades should only be taken once the market trend reverses.

Stock Analysis and Fibonacci Levels

Bajaj Auto

Market Overview: Bajaj Auto is currently trading at Rs 7,652.10, with a 52-week high of Rs 12,774.00 and a low of Rs 7,317.05.
Fibonacci Analysis: Key retracement levels suggest resistance around Rs 10,045.52 (50%) and Rs 10,689.45 (61%). A breakout above these levels may signal upward momentum.
Investment Insight: The stock is trading near its 52-week low, indicating potential support. Investors should watch for reversal patterns or a confirmed breakout.

Hero Motocorp

Market Overview: Hero Motocorp’s current price is Rs 3,625.00, fluctuating between Rs 3,495.00 and Rs 6,246.25 over the past year.
Fibonacci Analysis: The 50% retracement level at Rs 4,870.62 could act as a significant resistance, with Rs 5,195.27 (61%) being another key level to watch.
Investment Insight: The stock is trading near its 52-week low. If it holds above Rs 3,495.00, it could present a buying opportunity with a target towards Rs 4,144.30 (23%).

Sona BLW Precision

Market Overview: Currently priced at Rs 472.90, Sona BLW Precision has a 52-week range of Rs 464.05 to Rs 768.65.
Fibonacci Analysis: Rs 616.35 (50%) and Rs 652.29 (61%) represent key resistance levels that need to be breached for a bullish trend.
Investment Insight: The stock is hovering near its lowest point in a year, making it a potential candidate for reversal trades if positive signals emerge.

Fibonacci Levels