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Autosector

Diwali pickHi everyone! As we already know that few months back auto sector has given breakout from its cup & handle pattern, after giving beautiful breakout in last 2 months it has corrected a bit and now taking support near its breakout level. RSI is also giving signals for strength at current level, so the sector to go long this Diwali would be Auto. Now zooming-In, in Auto sector we have to choose stocks which will be major contributor in coming rally. Some stocks like M&M and TVS were the leaders during last up move and gave almost 60-70% rally in last 4 to 5 months, they still have potential to move 30-40% on upper side but it is not suitable for fresh entry as risk to reward will not be suitable. "CUMMINSIND" is one stock looking strong and supposed to lead from front in coming rally in auto sector, it is near its cup & handle breakout level and formed a beautiful triangle pattern, RSI is also giving positive signals. Lower side risk would be only 7% and is supposed to go up to 2000 which would be 70% from current level, i.e., we will be getting risk : reward of 1:10. Stay safe! Happy Diwali.
NSE:CUMMINSINDLong
by sudhanshu_raaz
MARUTI: Ascending TriangleThis is also a converging triangle formed with one flat horizontal line on the top & an inclined line meeting at a common point as illustrated in the chart. The flat horizontal line act as a resistance for the prices & the on the inclined line the prices take support. It’s not necessary that the ascending triangle formation takes place only in the bull market, they can be formed in a bearish trend also. Here also you should concern with the key point “The Third Touch”. The five significant points help us to make our decision in a better way. Here, each points suggesting a reversal point & as soon as price got it’s third touch on the inclined supporting line the price shoot up & a breakout happened. The target for this pattern is the maximum vertical range of the triangle. Trading strategy:MARUTI: BUY 9285-75 SL: 9050 TGT: 9545/9850
Editors' picks
NSE:MARUTILong
by TradingSutra
17
Maruti (Neowave Forecast)Hi Everyone Today we are going to discuss Auto Index. I have given an littile complicate forecast but it was needed to give you an complete picture because you may be having Maruti already in your portfolio. 1) See Maruti is likely to complete its L3 in that price range that mean L5 wont be long. Simply price wise there is not much space for upper side. But plus point for L Series is that if the pattern occur completely than it will take around at least 12 weeks to reach L5. 2)So forget the forecast but look for the retracement and if you see the price near stop loss of L Series than you can add position for shorterm. And those who already has the position in Maruti trail sl and do the profit profit booking. Further update will be given in our trading view live links. Let me know if you have anyquery. Thank You _____________________________________________________________________________________________________________________________________________________________ Coming soon features. 1) An Neowave Library 2) Video Updates 3) Education series _____________________________________________________________________________________________________________________________________________________________ If you new than you need to see our below charts also to understand our Neowave coding style.
NSE:MARUTI
by Neowave-forecast
Auto Sector (Neowave Forecast)Hi Everyone Today we are going to discuss Auto Index. 1) First currently Auto index is in correction of L4( long term 4th wave) and futuristic movement is bullish in form of L5 ( 5th wave). 2) In L4 we are also in last leg correction, this mean price should not consolidate here more than 2 week or so. if price consolidate more that mean there is a possibility of further waves of M series( medium term wave) but as you know the nature of 5th wave it does not always give proper price length and also fail prematurely so keep this in mind when you are buying quantity in auto stocks. Simply mean buy quantity with risk management. Anyway if anything changes i will update them in our trading view live link. If you have any question you can message me in trading view. Thank You _____________________________________________________________________________________________________________________________________________________________________________________________ Coming soon features. 1) An Neowave Library 2) Video Updates 3) Education series _____________________________________________________________________________________________________________________________________________________________________________________________ If you new than you need to see our below charts also to understand our Neowave coding style.
NSE:CNXAUTOLong
by Neowave-forecast
Break down in HeroMoto.Hero Moto corp has given a break down of a triangular consolidation and also closed below its 20 DMA, Though, its taking support from its weekly 200 ema. Tomorrow, if the stock on an hourly time frame closes below 2774 levels, a short traded can be initaited. Targets :- 2735, 2692 Stop loss :- 2775 The markets are retracing and the stock if closes below 2730 tomorrow, it will break its weekly 20 ema and a swing trade for the month of October can give nice targets. Wait for the price action near the levels and on closes to closes basis the stock will give nice targets.
NSE:HEROMOTOCOShort
by Mambotrade
2
LUMAXTECH - Bullish H&S pattern - Swing TradeThe analysis is done on weekly TF hence price may take few weeks to few months in order to reach the targets. Trade setup is explained in image itself. The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
NSE:LUMAXTECHLong
by TradewithAditya
3
Nifty AutoNifty Auto: Be Vigil ! ➡️ Nifty Auto: At multiyear resistance !Monthly and Weekly divergent; daily made first strong bearish candle at ATH BO ➡️ M&M and Maruti contribute ~40% to NiftyAuto index. ➡️ M&M: Big negative daily candle with Future price lower than Spot price; daily goes divergent, weekly and monthly strength remains; if not short, book profit; short near 1160-1185. ➡️ Maruti: Daily cluster broke out earlier and now 2 negative candle; short Candidate below 8300 for sure; near to 8670-8710 for R:R short. Happy Weekend
NSE:CNXAUTOShort
by vnvnsrn
HeroMoto Corp Chart Analysis !!📈 Hero Moto 📉 My Findings :- 1. Breakout from a swing high and Resistance Zone. 2. Close above March high. 3. Higher High and Higher Low formation. 4. Auto Sector is in Uptrend. Bias- Long Target- 2646, 2792, 2933 and 3057 SL- 2242 RR- 1: 2 All Important Supports and Resistances are drawn in chart. All levels are of Spot and on closing basis. Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
NSE:HEROMOTOCOLong
by ShelendrAgrawal
Balkrishna Ind. Chart Analysis !!📈 Balkrishna Ind. 📉 My Findings :- 1. Breakout from a swing high and Resistance Zone. 2. Close above March high. 3. Higher High and Higher Low formation. 4. Auto Sector is in Uptrend. Bias- Long Target- 2397, 2516 and 2692 SL- 39450 RR- 1: 2.5 All Important Supports and Resistances are drawn in chart. All levels are of Spot and on closing basis. Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
NSE:BALKRISINDLong
by ShelendrAgrawal
HoneyWell Chart Analysis !!📈 HoneyWell Auto 📉 My Findings :- 1. Breakout from a Resistance Zone after testing three times. 2. Close above March high. 3. Double Bottom Formation. 4. Higher High and Higher Low formation. Bias- Long Target- 42270, 43302, 44885 and 46110 SL- 39450 RR- 1: 2 All Important Supports and Resistances are drawn in chart. All levels are of Spot and on closing basis. Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
NSE:HONAUTLong
by ShelendrAgrawal