Auto Sector Nears Breakout Zone at 24,215 | Strong Resistance Tested Multiple Times Since Nov 2024

Auto sector is once again approaching its key resistance level near 24,215 — a zone tested 4–5 times since November 2024. A decisive breakout above this level can lead to strong bullish momentum and sector-wide upside.

5/17/20251 min read

📊 Sector Overview:

  • Sector Name: Auto

  • Index: Nifty Auto

  • Breakout Zone: 24,215

  • Current Price: 23,953

  • Recent High: 27,696

  • Resistance Tested: 4–5 times since Nov 2024

  • Momentum Status: Building up near breakout zone

  • Trend: Consolidating below major resistance

🔎 Why this Sector Looks Strong?

  • 24,215 acting as a powerful multi-month resistance

  • Sector has tested this zone multiple times — higher probability of breakout

  • Long-term uptrend intact with healthy pullbacks

  • Volume increasing near resistance — possible accumulation

  • Once breakout confirms, major auto stocks may follow

🎯 Potential Benefit

  • Sector breakout can trigger fresh rallies in large-cap auto stocks

  • Positional swing trades can benefit from early entry

  • Helps identify early trend formation in Maruti, M&M, Tata Motors, etc.

🧭 Technical Snapshot

  • Breakout Level: 24,215

  • Current Price: 23,953

  • Resistance Zone: 24,215