Nifty Auto breaks out

Just like Pharma-health and IT some weeks ago

Sometimes we as momentum traders tend to ignore the large caps.

I can’t blame anyone, they move slowly.

But sometimes indices break out and outperform the market and trading these sectoral moves can be lucrative, especially as a positional trade.

Previous examples are Nifty Realty’s outperformance last year.

Nifty pharma/Health, FMCG, and IT recently.

I alerted this breakout here in TTT. Read here: (link)

The latest to break on this list is the Nifty Auto

Tata Motors breaking out a day early was an early signal.

Alerted on the HPA,

I have also gone through individual lists of stocks in the auto index and discussed the strong names individually

PS: I am keen to play this move via an ETF. Autobees or ICICI Auto are available etf for this index.