Stock has reacted to the daily demand zone
It also has confluence on 50 Ema
It is also bullish on 4HR timeframe
Note : this is not Financial advise or be treated or be endorsed as financial advise
CNX auto continues the rally and aims at the 18860-19000 mark to make the new all-time-high.
Immediate resistance at 18719.50 which was the latest high made on 29th Dec'23
We can see a small divergence at the current level, indicating the possibility of a price fall.
Hence any bullish new entries are advisable once the price validates the breakout of the last high...
Tata Motors Limited is an automobile company engaged in manufacturing motor vehicles.
TTM EPS: 31.98
TTM PE: 19.61
P/B: 0.73
Mkt Cap (Rs. Cr.): 208,392
Dividend Yield: 0.32
Sector PE: 52.69
Book Value Per Share: 863.26
Some Positives:
Strong Momentum: Price above short, medium and long term moving averages
Strong Annual EPS Growth
Good quarterly growth...
NSE:AMARAJABAT Amara Raja Batteries Limited (ARBL), the flagship company of the Amara Raja Group, is the technology leader and is one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry.
Bullish harami candle pattern breakout done and breakout of 45 days consolidation done...
CNX AUTO index cmp 13650
Daily time frame
Elliot wave study.
Index is trading in (V) of wave 5 of motive phase.
as per mega phone structure, resistance confluence around the maturity area of wave 5.
AS per RSI and MACD index is over bought and any time this move can come to pause.
Bulls should be cautious going further in auto stocks. once wave 5 matures and we...
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.
