TAMO repeating it self exactly 10 years after -Longs above 160 Looks like a repeat of itself of 2010, now again in 2020 after 10 years. Definite buy on a close above 160-165. Keep an eye for it to hit the blue box !!
Autoview
HEROMOTO ANALYSISTHE STOCK IS IN A UPTREND AND HAS GIVEN A BIG BREAKOUT AT 2999-3005 LEVELS THERE IS A SMALL RESISTANCE AREA AT 3105 LEVELS ABOVE WHICH THE STOCK CAN RALLY TILL 3350-3390 LEVELS.
IF THE STOCK BREAKS ABOVE 3105 WITH VOLUMES AND GIVE A CONTINUATION ON THE UPSIDE ONE CAN BUY AT THOSE LEVELS WITH SUPPORT AT 3005-2995 LEVELS FOR UPSIDE TARGETS OF 3150/3200/3250/3300/3350/3400
RESISTANCE - 3105/ 3165 // 3225 // 3280 // 3340 // 3390
SUPPORT - 3050 // 3000 // 2975
NIFTY AUTO ANALYSISAuto Sector has rallied 75% since April, with increasing demand for personal vehicles in India. Technically, the price has always followed the long term trend line marked on the chart. The prices breached the trend line for the first time due to the COVID-19 related sell off.
The auto sector should correct and stay sideways for the coming days and offer good long term buying opportunities.
Based on the analysis, 7300 is a buying zone for auto stocks with a horizon of 1-2 years.
NIFTY AUTO Analysis (CNXAUTO)After lock down opened in China, the sales in Auto Sector increased a lot. Maybe same can happen in India.
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Consult Your Financial Advisor Before Taking Any Position
EICHER MOTORS(Daily) : Curbed by resistance..!EICHER MOTORS (Daily) posted a strong rally into strong Fibonacci cluster resistance around 19200 has curtailed the upmove. The immediate downward reaction and inability to move higher is attracting some selling interest once again. Momentum is showing signs of weakness adding to the developing bearish bias. Any move below 17600 could be an invitation for more downside in the coming week.
Idea Sourced From
NeoTrader
trade.chartadvise.com
Maruti | Bear FlagMaruti breaks down after a short period of consolidation. Apparently, price action is showing a Bear Flag pattern, which is confirmed with a close below 5990. Round number of 6000 too had been breached. Target of the pattern comes in at 5415. With all the weakness surrounding the Auto sector, target seems to be well within reach. Even higher time frame analysis (attached below for reference) indicates same sentiment.
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