Autoaxles : Volumes Up

There is a possibility of a break out in Autoaxles India for the following reasons

• The stock is back to its historical average trendline.
• There is a fibonacci support at this level of Rs. 570. This is a strong 50% support point for the stock
  
• The volumes on this stock are up as seen in the accumulation distribution chart
• MACD is still in the positive zone of the rally and RSI is still not showing the stock as expensive

The nest support for the stock would be at Rs. 530, downside of 7% and there is an upside resistance at Rs.610, an upside of 3%. Enter with caution.