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....
CNX Auto last close is below my monthly bearish level.
It will be interesting to see weather it sustains above bearish level.
Important levels are marked.
Happy trading..
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Nifty 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;...
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.
Hero motor is forming dark cloud cover in the short term (intraday) and has lot of downside in the weekly time frame.
Hero at CMP of 2650 has a lot of downside, given the steel excise-duty (news driven) rally after it's poor quarterly results.
Both their topline and bottom line were hit.
People are not buying hero motor bike; 24% decline in sales.
Net profits...
NSE:BAJAJ_AUTO
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 As One can see, This...
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
Last month Nifty auto was perfectly traded as (plotted study attached)
Have marked important levels for November as well
Sell on rise near the levels marked...
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Nifty auto index is showing. A firm confirmation of breakout from the previous resistance and also from a double bottom W pattern.
The last weekly candle is wide range bullish open = low pattern. The momentum and trend is bullish on all timeframes.
From the fundamental side covid recovery and festive sales could help stocks in the sector to sustain the bullishness...
currently M_M is consolidating at important zone which you can see also act as a good support in 2015-16 time( you can zoom out the chart ) and it has bounced of many times from the same area in last year . stock is also nearby 200 Ema , A good closing above this will also lead the stock to new highs .
and it has also broken that trendline and retested two times...
NIFTY AUTO
1. last 8 months consolidation price move
2. this week break sooon
3. mentioned level of closing confirmation of big rally signal
4. after expect target level same good time stock buy entry
Nifty auto spot cmp 10000.
Study :- Time Cycle, Wolf wave, Harmonic , Chart Pattern.
Time Frame :- Daily.
Time Cycle :- Bottom to bottom cycle of 74 TD indicate index is making bottom at interval of 74 TD and at the moment index is at 74 TD so if this cycle is matured and the next cycle unfolds we may see a change in trend from now onwards as per this cyclic...
Tatamotors, 15 min chart
Can go long with stoploss of close below 326
for targets of 333.65, 336.80, & 339.25
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
