The performance of various indices over the past few months indicate how much weakening demand has hit the auto sector. Discounts from 52 week highs at the indices level show Nifty Auto and BSE Auto the weakest among all the indices, with current prices nearly 30% below year highs of the index.
The Candlestick Screener tracks all major indices, looking at Candlestick Strength (bullish - bearish) as well as overall discounts and high low spreads. While the auto indices were the worst performers, Nifty Smallcap and BSE Consumer Indices are also significantly discounted by double digits from their best performances.
The most resilient index so far has been BSE IT, which is close to its year high of 16300.
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