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Nifty Auto Index

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CNXAUTO trade ideas

AUTO SECTOR - Breakout - Retest & BOOM!Price Analysis & Overview: 1. Nifty Auto Index is in it's dream bull run after it broke the ATH resistance levels. 2. At current scenarios, price might continue to move higher towards the marked green lines or consolidate/correct towards EMA and then continue the run again. 3. RSI showing signs of overheated currently. MONTHLY TF VIEW : - Stay tuned for further insights, updates and trade safely! - If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading! Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing. Thanks & Regards, Anubrata Ray
NSE:CNXAUTO
by SuperNova396
NIFTY AUTO DAILY.Nifty Auto retesting the breakout on Daily TF. Taking support from the levels. Stocks like Hero Motorcorp, Tata Motors, etc. are in good uptrend. Although, Tata Motors fell 8% today because of Q4 results it posted on Friday. But still the other stocks gave good recovery from lower levels in the index along with the broader market index. If it stays positive and continues to move up, we can see good move in auto stocks as well including Tata Motors. Do your own analysis before trading. Only for educational purposes.
NSE:CNXAUTOLong
by vivekkagarwal
NIFTY Auto Index - Head n Shoulder patternNifty Auto sector has been in up trend for few months now. We can see a head and shoulder pattern in making on the Nifty Auto Index which is trend reversal pattern. Looks like it is time to be cautious on Auto stocks. Levels: 17650 crucial support for Auto Index. An hourly close below this level can be considered to be breakdown. One can look for long only if Nifty Auto sustains above 17950 levels. Note: If this is a new downtrend in Auto index, then this may have impact on Nifty as well.
NSE:CNXAUTOShort
by skandha1986
Diverging since 30th Nov: CNXAUTOI was taking a look at the ratio charts of sectoral indices to identify which sector though is going up but in relative terms is slowing down. The one that looked the cleanest is that of CNXAUTO. 1. On the LHS, we have the daily chart of CNXAUTO and on RHS a ratio chart of the AUTO index with CNX500. 2. One look at the blue and red zone, and you can see that since 30th of Nov’23 the CNXAUTO index per se has rallied, but the ratio chart has come down. This means that the rally has underperformed the rally of the broader market. 3. Is this a sign that the AUTO stocks will now correct? Need not be the case, but we can clearly confirm from these readings that the AUTO sector is likely to slow down, which means we are either headed for a consolidation or correction. 4. Considering the fact that the AUTO sector with the overall market is in a strong UP trend, I request not to go contra short blindly, but wait for enough signs of reversal, like a proper well-established divergence based on which you can attempt a sell trade. 5. If you are not into shorting, then do not look to go aggressively long on the AUTO pack at this juncture. Work on your stop losses if you have open positions and wait for better/ lower levels to accumulate. Trade Well.
NSE:CNXAUTO
by Abhijit_Paul