The stock has taken a nice support from the weekly 20 EMA and has closed around the previous candle close. There is a resistance zone around 3950-3985. If this resistance is clear and price sustain above the level. There will be chance of stock touch its recent high around 4160 level. In case there is a pullback and price action near the support zone...
- Nifty Auto looks all set for a retracement - Stay cautious before you want to accumulate stocks for long - I would still recommend sitting cash
Upcoming Week / Days Looks like Auto Sector is going to outperform The formation of the Chart Nifty Auto Looks interesting RSI is overbought zone, whenever RSI goes above 70 the tendency of the sector is to fall back & touch the 21/50 day EMA giving an ample opportunity to buy stocks in the sector Though RS (Nifty) is above 0 still looking nice for an upmove
As per my setup price is below the moving average & also has taken a retest with a support breakout. If the trade continues in my direction post entry I will shift my SL lower to the buying point and ride the trade for 8% downside targets. R-R is always 1:5+
Attached: HEROMOTOCO/ NIFTY AUTO Weekly Chart as of 28th April 2023 The Chart is Clearly indicating a Terminal Wave in the form of an Ending Diagonal with a Massive Bullish RSI Divergence So long Hero MotoCorp has been ignored by the Market and Underperforming within the Auto Index Get Ready Now because the Stock will see a Change in Trend from Down to UP and...
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.. Follow for more updates. Share and Like with your trading colleagues.
Preparing for a big rally, keep auto stocks in radar specially Maruti,
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... Like... Share.. Follow ( for more update )
Nifty Auto Any Day Close Above 10408 Buy Auto Stocks With SL Of 10000 (DCB) Target - 12200 (New All Time Auto Index High) Expected Rise - 15-18%
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...
M&M has given falling wedge breakout. Key Fibonacci levels marked for targets