Two-wheelers in focus: Hero Moto, Bajaj Auto await breakout for fresh rally

Hero MotoCorp, Bajaj Auto and Eicher Motors need to cross their significant hurdles with aggressive volume for further gains to emerge.

Shares of two-wheeler makers were in limelight on Friday after Hero MotoCorp announced its decision to raise product prices with effect from July 01. The stock rallied 3 per cent and was the top performer among the pack. 

The company said the price revision has been necessitated to partially offset the steadily growing overall cost inflation, including commodity prices. READ MORE

Historically it is seen, that whenever one company announces a price hike, competititors within the industry follow suit. Hence, all two-wheeler makers including Bajaj Auto, TVS Motor and Eicher Motors logged steady gains.

Here’s a technical outlook