CNXAUTO trade ideas
Side ways Move ( as A pause ) Let Me tell you flocks , there is two distinctive moves in the market ,
01) Function of Price - All we know as Impulse waves
02) Function of Time - All we know as Corrective waves ( structure )
they always co-ordinate with in them with specific character and being analyst one must understand them in timely manner to adjust or adopt the method of
Positioning and re-positioning of stocks /Futures , Options trading
Auto Index is clearly made an 5 wave impulse move and then entered in side way corrective pattern , Currently i am looking this is developing in to simple
ABC corrective structure , one can expect side ways market to continue until the time factor is accounted
Once this correction completes you can expect another impulse leg move up ,
So keep trading in scrips which show the same visual patterns and keep making money
Good luck
Weekly Out Look -Auto Segment I am still looking this pattern indicate one more move up in coming days , One can look for buy set up on Scrips which have Positive movements
Buy on Dip Strategy..Automotive Sector Index as a whole coming back into the fold, it is eventually moving towards 9000-9500 in next 4-6 months..
Next Move I am looking this as corrective structure , we call it as secondary correction to primary downward trend ,
This move will be slow and mostly looks like a choppy on daily , but the move is going to occur in coming day
One can look for positioning them self for trading in this corrective structures
Consolidation phase ( One of the Possible)Now the Auto Segment have come to an pause on daily time frame basis
its been Quite a move towards down ward , One can look for an consolidations phase in the Auto segment
You will observe they might enter in side way pattern or , partially range bond moves
Try to trade with in the range bond move in Future trading ,
I have plotted one of the best suitable pattern where market has always repeated it self ,
Look forward to trade in individual scrips
AutoWhen sector looming on its bottom line , the returns wouldnt be great in next couple of quarters even if it bottom out. i thought 7500 but went down all the way to 7000. i shifted my support lower which indeed turns out to be good.
NIFTYAUTO | 7000 Support of Last ResortNIFTYAUTO index has been on a downtrend traversing through key supports. Now 7000 seems to be the support of last resort for the index.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
AutoWhen such negativity surrounds, thats when bottoms are formed. i still bottom could be near, but unless it happens, it has not happened.
CNXAUTO - 1D - DIVERGENCEPositive Divergence is seen on Daily Chart of CNXAUTO. Could this be a relief in the auto sector? Maybe Yes? or Maybe Not? I searched on google about RSI Divergence(s) before posting this as my charts are generally based on Harmonics and I don't know about divergences or general technical analysis that much. This is on a Daily Timeframe so can be seen as a reliable indicator I guess. Let me know if there is something wrong in my deduction from this chart and RSI combo.
Some Sort Coverning expected in Tatamotor and TVS Motor and HeroNSE:CNXAUTO
CNX Auto may show some sort coverning for today expiry
Buy Tatamotor and TVS Motor with call put
