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
In daily time frame it's follow side base trend . Due to quarterly report revenue was down by 2.91%(-2.905B). For long term view it's a bullish . But here support was 165.35 and resistance 190. If it break 190 resistance with great volume and take a retrace at this level then you can make position for long term .
Overview BAJAJ Auto has given a beautiful breakout of its all-time high with impressive trading volume. Currently trading at an all-time high, this presents an exciting trading opportunity. Today's candle is notably bullish, signaling strong potential for gains. Why It Matters Breakout : When a stock breaks through a key resistance level (like an...
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+
Nifty auto sector daily time frame elliot wave analysis
JBM Auto Ltd is engaged in the automotive business that manufactures and sells sheet metal components, tools, dies & molds and buses including sale of spare parts accessories & maintenance contract of Buses. JBM auto weekly time frame in Consolidation Mode .Its Ready to break the zone Stock Price is Above 200 Ema Can Go Long
EICHERMOT is currently trading on the daily and weekly demand zones. On its weekly chart, EICHERMOT is getting support from the EMA 50, and on its daily chart, it is getting support from the 200 DMA. On the daily chart, we can see the formation of a double bottom and RSI Bullish Divergence. On the weekly chart, the "wave volume divergence indicator" shows that...
While the Fundamental Analysts might find Auto Valuation High. Auto stocks have much higher to go. Nifty auto index in 5th wave of Bull Market. Fresh breakout in smaller degree wave 3. Auto leading the way higher.
TATA MOTORS as per Day Chart Analysis have chances to move uptrend Stock ABOVE 418 TARGET 423. As such Nifty is in Downtrend Mode up to 18325 to create fresh demand and Bank Nifty is in Uptrend Mode. So trade carefully for this week. Happy Profitable Trading to All.
TATA MOTORS as per Day Chart Analysis have chances to move uptrend Stock ABOVE 418 TARGET 423. As such Nifty is in Downtrend Mode up to 18325 to create fresh demand and Bank Nifty is in Uptrend Mode. So trade carefully for this week. Happy Profitable Trading to All.
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.
Tata Motors has formed a parallel rising channel in which the stock has fallen from the top resistance. In addition to this, the stock today (16/09/2022) broke its 200D EMA and is ready for another 6/7% fall according to the setup & support of the rising channel. One can short at: CMP - ₹425 Target - ₹ 410 / 400 / 390 SL - ₹ 445( closing basis ) ...
Preparing for a big rally, keep auto stocks in radar specially Maruti,
NSE:CNXAUTO I am expecting a small correction in the Auto sector. It is because the price is facing resistance on the upper trendline. The MACD indicator is showing a small divergence as the MACD Line didn't went up when the price went up and giving random crossovers. It is moving in a range but the prices went up in past one month. The same is with the RSI,...
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;...