CNXAUTO trade ideas
Auto Segments Pain is not over YetAuto Sector the consolidation phase is likely to continue
I am looking this current phase will likely to end near 8175
Expect dramatic Move before it makes U turn in the last phase of consolidation
One can look for sell on rise Opportunity in Auto Scrips Future segments but for sure buying is not a Good idea
CNXAUTO "LONG"Hi all, CNXAUTO completed corrective structure to the upside opportunity
***Use Proper Risk and Money management Rule if you don't had a one please watch the play don't trade
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--Prabhu Rajarathinam
Automobile Sector - Leading and Outperforming Companies (3)As per the Auto Index chart, it is consolidating in a downward diagonal channel, but there are companies in auto sector, (industrywise) which may outperform due to their strong fundamentals.
In Automobile Sector - Leading Companies Industrywise
1. AshokLeyland (Commercial Vehicle)
2. Jamna Auto/Automotive Axles (Auto Ancillaries)
3. VSTTractors/ Escorts (Tractors)
4. Maruti (Cars)
5. Eicher Motors /Hero Motorcorp (Motorcycles)
They above listed have consistent profits, good growth and almost no debt.
CNX Auto : Ki kara petrol (Bearish) khatam hi nahi honda ?CNX Auto has broken out of long term trendline support followed by lower top lower bottom structure. However, daily and weekly RSI is showing 1-2-3 type positive divergence which means short trap can come into play in short term which may take it to 8200-8400 on the higher side. 7640 is the support on lower side. Overall, it is poised for 6700-6800 till the time it is trading below 8850-8870 on daily closing basis.
Trader should avoid short in major auto stocks and wait for 5-6% bounce in auto index to create short position.If index falls below 8700 before moving upward, then short term buy position can be created keeping 8500 as stop loss.
Nifty Auto Index | Trade NiveshThe Nifty Auto index was trading 1.17 per cent down at 8487.20 around 09:48 am.
Today Market is so cool Steel and Pharma Sector is bullish note but nifty auto index is 1.17 per cent down it's very clear think Tata Motors (down 3.27 per cent), Maruti Suzuki IndiaNSE -1.96 % (down 1.97 per cent) , Motherson Sumi SystemsNSE -2.40 % (down 1.92 per cent) and Apollo Tyres (down 1.36 per cent) were the top losers in the index.
view by chart technical clear down to become top levels mode
NIFTY AUTO INDEX WILL FACE SMALL RESISTANCE IN 9200 ZONE. AND WILL MOVE TOWARDS 9310 BEING THE STRONG RESISTANCE.
Save environment, be healthy Try to use a car at least as possible as it will not only help you to save your hard earned money also it will help you to restore your lost health too as walking is the best exercise.
Nifty Auto trading at Make or break Level. stay alert!Nifty Auto trading at Make or break Level. stay alert!
CNXAUTO index near important support after being in oversoldThe weak numbers from auto companies lead to massive selloff in the auto stocks and also auto ancillaries.
Seems the fall would become a bit nimble now.
Below 8750 we may see more weakness towards 8515.
Regards,
Vinay
"Elliott Wave Zigzag Beast in form" !!!Hi, Friends I'm anticipating CNXAUTO is forming Possible Wave A of Zigzag and Wave A consist of 5 wave structure it already completed Wave 1,2,3 and wave 4th are in action yet to fully evolve my expectation it should completed within April (4% Error). so, then 5th highly possible to complete in month of June(2% Error).
Basic Rules of Elliott Wave
1. Wave 3 is never the shortest
2. Wave 2 can never go beyond the Wave 1
3. Wave 4 cannot move in the area of Wave 1
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Note: Degree of Labeling is only tracking purpose.
Nifty Auto Bearish viewNifty Auto may touch 8000 again..negative view .divergence also suggest same.view as education purpose.
CNXAUTO | 1M | key_levelsauto index is at it's 2 year's low(Dec 2016 levels).
right time for investors to start buying in the auto sector.
