Chart is self explanatory. Levels of breakout, possible up-moves (where index may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before...
NSE:CNXAUTO - Overview on all timeframes - MTF, WTF, DTF
DTF its trading within ascending triangle. Expect price to consolidate
WTF its taking long term support and might make double bottom as long s 12675 is held on weekly closing basis. Also showing signs of flag pattern formation but that will be only confirmed if 12675 is held. If thats broken, bullish...
I am extremely bullish on CNXAuto/NIFTYAUTO!
It is forming a flag pattern
Making higher highs with correcting RSI
Current consolidation might last few more months
Target 16000
Currently correcting on 4M timeframe
Top constituents by weightage
Mahindra & Mahindra Ltd. 20.36
Maruti Suzuki India Ltd. 19.97
Tata Motors Ltd. 11.67
Eicher Motors Ltd....
Index is facing resistance around the ascending resistance trend line, though index and nifty are managing to achieve higher levels, auto index is making bearish weekly candle around resistance levels,,
Now till index does not give weekly close above 13500 levels,, view remains to be lighter on auto counters.
As inflation boom autos are the first one where the...
Formed Pole with Flag, on its border to breakout, 1st target 190 can be achieved instantly after breaking out flag part with in a month or two, and 2nd target 470 can be seen in this financial year. RSI around 60 upwards on all time frame(D/W/M).
Another Auto Stock which is looking quite fantastic is Maruti, if we draw Fib level downwards since dec2017, will find it has come above 0.50 level, which is a sign of reversal and going bullish, again best time was in march to buy at EMA200, however gave a good breakout on 23jun from consolidation phase, looking for immediate target 10000, 14000 (by end of...
Seeking 50% target by end of this year. Target level 1500-1600, RSI crossing above 70 on monthly/weekly and on daily about to cross 70, Mar 2022 was the best time to enter in stock when it took the support of EMA 200 on Weekly chart around 730..It has already given almost 50 % return since then, now heading towards it channel resistance around 1500-1600.
As per Elliott Wave Theory when NSE:NIFTY itself was falling NSE:CNXAUTO hold its fort. Now I'm expecting a similar type of fall in Nifty Auto too with a stoploss above its recent high. You can see my recent Nifty analysis too.
CNXAUTO broke down from almost a month long uptrend channel on 3rd June. It has formed another uptrend channel since 6th June. A break down from the newly formed channel will test the low of 11153 formed on 7th Jun
AMARA RAJA BATTERY looking good for a swing trade.
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The reasons behind the trade.
1. A triangle pattern had formed in this stock. The height of the pattern can be taken as the target for it.
2. The stock will soon give a break of its 50 ema.
3. and at last at the same price, the stock will break its flag and pole pattern.
Fundamental reason
1. the sales of...
- Watch 535 Breakout (Keep alert at this price)
- Wait for confirmation candle
- Deploy 50% capital with 530 as stop loss
- Deploy 50% if it retests with 530 as stop loss
- Immediate target 25% up from breakout at 666
Do your own DD before taking the trade.
NSE:CNXAUTO
NIFTY AUTO INDEX in CUP & HANDLE Formation.
Awaiting Breakout above 12050 on Weekly Closing Basis.
This is the Resistance not broken since 2017.
Once Breakout happens after 4 years, it would open path for
New Targets : 14000 - 16600 - 19500
Buy AUTO ETF
SL: 9950
Golden Crossover & rising weekly RSI
Link to Charts of Auto Ancillaries shared recently
Trading near ATH with strong phase, continues green on 4th week. Look at the Auto shares Hero yesterday gives 100 points.
Now one can look for the auto shares and check if the trend is long then start investing small quantity of shares.
CNX Auto is at a very good place at the moment.
Look at the Higher lows being formed from September 2020.
Once we breakout of the resistance, Auto and Auto Ancillary stocks will have a huge run.
Nifty Auto
Nifty Auto sector ready blast mode 2022 starting
when break mention all level confirmation next next level
as be also mention Nifty Auto all time high target
important confirmation for break previous all time high next ongoing rally blast of year 2022
About to break Dec2017- Jan2018 level, need to close above 12030- 12050 on at least weekly chart, good to go will be if closes above its level 12030 on monthly chart too, can seek its immediate support at 11083 if falls in order to bounce back.
