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:NIFTY and NSE:CNXAUTO are showing Inter market Divergence again. Last time Divergence occurred in June 2022 when Nifty gave reversal. Will the Divergence work again. Chance are High. We need to wait for follow up Buying though.
Hi Everyone Today we are going to discuss Auto Index. 1) First currently Auto index is in correction of L4( long term 4th wave) and futuristic movement is bullish in form of L5 ( 5th wave). 2) In L4 we are also in last leg correction, this mean price should not consolidate here more than 2 week or so. if price consolidate more that mean there is a possibility of...
A confirmed breakout and consolidating above lifetime high is good indicator of higher levels to come.. Buy at will on dips in this sector..
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.
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...
NIFTY AUTO: Bullish for 14200/15500+ SUP: 11655/12289/10680/10000
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...
#Auto Stocks are setting up for a NEW HIGH NSE:TVSMOTOR NSE:EICHERMOT NSE:TATAMOTORS
NIFTY AUTO is moving between two levels from very long time. It has taken support near lower level 12750 and moving upwards towards 13350. Looks good for futures and option positions in sector. Regards, Dhrumil Vyas
Need a correction because market is Overextended. Market Direct is short bias
Nifty Auto: Recently in good trend. - It has reclaimed the tops of Jan 18 after seeing big dip in Covid times in Nov 21 and has given strong breakout above these highs. Breakout level 12k-12.2k. - Retest done close to breakout level ~12.2k with rejection for going further down. - With Stop level of 12k has good Risk to Reward for long opportunity - Well poised...
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,
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,...
\\For educational & Research purpose only. Not a recommendation, Not SEBI Registered Analyst
Any pullback toward the uptrend channels lower boundary then good opportunity to enter in Auto Sector .