NIFTYAUTO | 7000 Support of Last ResortNIFTYAUTO index has been on a downtrend traversing through key supports. Now 7000 seems to be the support of last resort for the index.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
Auto
CNX Auto : Ki kara petrol (Bearish) khatam hi nahi honda ?CNX Auto has broken out of long term trendline support followed by lower top lower bottom structure. However, daily and weekly RSI is showing 1-2-3 type positive divergence which means short trap can come into play in short term which may take it to 8200-8400 on the higher side. 7640 is the support on lower side. Overall, it is poised for 6700-6800 till the time it is trading below 8850-8870 on daily closing basis.
Trader should avoid short in major auto stocks and wait for 5-6% bounce in auto index to create short position.If index falls below 8700 before moving upward, then short term buy position can be created keeping 8500 as stop loss.
Nifty Auto Index | Trade NiveshThe Nifty Auto index was trading 1.17 per cent down at 8487.20 around 09:48 am.
Today Market is so cool Steel and Pharma Sector is bullish note but nifty auto index is 1.17 per cent down it's very clear think Tata Motors (down 3.27 per cent), Maruti Suzuki IndiaNSE -1.96 % (down 1.97 per cent) , Motherson Sumi SystemsNSE -2.40 % (down 1.92 per cent) and Apollo Tyres (down 1.36 per cent) were the top losers in the index.
view by chart technical clear down to become top levels mode
A PRO INDICATOR FOR BITMEX/FOREX/STOCK WITH 90% ACCURACYThis indicator is specially made for BITMEX and FOREX.
It will give u automatic BUY/SELL signals.
You can easily take minimum 20% profit daily from bitmex by this indicator.
TO BUY THIS INDICATOR CONTACT US ON TELEGRAM @marianzs Or U CAN ALSO MESSAGE US ON TRADINGVIEW.
OUR TELEGRAM CHANNEL t.me
Ashok Leyland1) Head & shoulder on all time high
2) RSI oversold
3) CNX Auto at 52 wk low
4) Though volume no are good in CV side but price is not reflecting it --- are missing something? Are at peak of earning cycle or derating due to change in cost of capital
5) If crude goes upto 90-100$/bbl and INR to 80 then only stock can be shorted
5) In my view stock likely to bounce back rather than falling INR 50 ie around 40% as per H&S theory
CNX AUTO is at an crucial levelAuto Stocks may be at a crucial level.
Index has been creating a falling wedge pattern closely following the mentioned trend line.
A weekly close below the red line may be bearish and targets upto 9920 levels.
Similarly weekly closing above the falling trend line may signal uptrend till previous highs.
Lot depends on news flow and earnings so lets see...
BAJAJ AUTO PATTERNThere is a Harmonic Pattern in Bajaj Auto (CMP - 3020.10),
BUY 10% Below 200 DMA - 1213.20
SELL 20% Above 200 DMA - 1693.2
Gain of 39.56%
BUY 10% Below 200 DMA - 1453.50
SELL 20% Above 200 DMA - 2058.00
Gain of 41.59%
BUY 10% Below 200 DMA - 1717.20
SELL 20% Above 200 DMA - 2553.60
Gain of 48.71%
BUY 10% Below 200 DMA - 2069.10
SELL 20% Above 200 DMA - 3033.60
Gain of 46.61%
BUY 10% Below 200 DMA - 2746.80
SELL 20% Above 200 DMA - TARGET Price of ₹3500
Unrealised Gain of 9.95%
Go LONG on dips.
Disclaimer : I am not a SEBI registered investment advisor. All views expressed are for educational purpose only. Kindly consult you financial advisor before trading or investment. I may or may not have position in the stocks described for trading or investment view.
My PredictiveEngine's Intraday call(10-May) - TATAMOTORS - LongBased on my PredictiveSystem's signals, today (10-May) its going to be a GREEN candle for TATAMOTORS
Buy above: 342.9
Target-1: 345.5
Target-2: 347
Target-3: 348.6
Stop loss: 340.2
Note: These calls are based on my own analysis. It may or may not work well for you. So please carefully consider whether it is suitable for you and please do your own research before attempting any. The profit/loss made by you due to this call, is solely your own responsibility. Thanks, All the best. Happy Trading. :-)