CHANNEL BREAKOUTNSE:CNXAUTO getting ready for next channel breakout
Possibility of a retest before the next round of firing
Took support around fib levels
CNXAUTO trade ideas
NIfty AutoLast month Nifty auto was perfectly traded as (plotted study attached)
Have marked important levels for November as well
Sell on rise near the levels marked...
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Nifty Auto - 15% Upmove Coming ??Nifty Auto
Any Day Close Above 10408
Buy Auto Stocks With SL Of 10000 (DCB)
Target - 12200 (New All Time Auto Index High)
Expected Rise - 15-18%
NIFTY AUTO ON FIRE! NEAR THE SUPPLY ZONE THOUGH.Nifty Auto showed immense strength bouncing off 200 EMA line and now opening with a gap up and holding above the B level of XABCD bearish butterfly pattern drawn on the chart.
The price is near the supply zone but after taking so much beating, it may not reverse again but takes a pullback and continues the rally in my opinion. Or might even fail from the supply zone, so keep a watch.
NIFTY AUTO on Bigger TimeframeNifty Auto is at resistance levels of a trendline on monthly timeframe chart.
After 2020 fall it had broke the major resistance and took support on it.
Now from support zone it had made higher lows, but not the higher highs.
Index had contracted for last few months so now there is high possibility it may show big move one side.
This month we may witness a major breakout or it will retrace and and take support.
If it comes back and take support then it will generate a strong momentum for breakout or breakdown.
The current support zone had many times acted as a resistance.
If this support is broke then we may see a fall.
This post is for information purpose only.
It is my own analysis, I'm not a professional trader or analyst.
#niftyauto breakout confirmation Nifty auto index is showing. A firm confirmation of breakout from the previous resistance and also from a double bottom W pattern.
The last weekly candle is wide range bullish open = low pattern. The momentum and trend is bullish on all timeframes.
From the fundamental side covid recovery and festive sales could help stocks in the sector to sustain the bullishness in the short term.
Bullish on CNX AutoGave breakout on trend line after more than three years. Very bullish on auto sector. Watch out for more upmove.
I am not a sebi registered analyst.
Posting only for educational purposes
NiftyAutoNifty Auto is in parallel channel past 17 year and above 12110 monthly closing BO would be clear for bullish upmove
Auto index is ready to be dhamal soon CNX AUTO index is breakout of falling trendline so anticipated bade dhamal hone wala h is sector ke stocks me !!!
Nifty Auto looks good .Nifty Auto is showing demand in support zone .In short term it may go up to Resistance levels again.
Auto sector analysis Auto sector near/at supply zone area from almost 8 months.
Chances are high for breakout if happens then ready to buy auto sector stocks to book good handsome profit.
ascending triangle and hidden positive divergence in auto indexNifty auto weekly chart
observation
1. chart is forming continuation pattern , called ascending triangle.
2. hidden positive divergence in price and RSI.
3. MACD is near to crossover.
waiting for breakout in auto index for long short term entry.
Nifty Auto-Flag BreakoutNifty Auto looking bullish, in process of flag breakout in weekly time frame. The stocks to watch out for :
1. Escorts
2. Maruti
3. Ceat
4. Hero Moto
5. Bajaj Auto
6. Eicher Motors
7. Apollo tyres
Auto Index BreakOutNifty Auto Index is clearly showing breakout on the weekly charts. Last week candles closed out of the symmetrical triangle. It was accompanies by RSI breakout of the last 20 weeks moving average.
Potential upside in the index possible for 2000 pts (+20%).
BO is converging with upcoming festival season in country and maybe precursor for good auto sales in the coming season. While Nifty is near ATH but Auto Index has been lagging owing to Chip Shortage which has been indicated to resolve from Jan'2022.
Next couple of weeks, we may see strong upside in auto sector.
#CNXAUTOTinyIC Range Crossed
Highest High and Close in the leg
IZ 10428.45 overhead to be crossed
Bottom is confirmed
Auto Sector - Ready for an upside ?Forming a flag patter, breakout might happen on upper side, look out for auto index cross 10900.
Stocks to watch out for if we see a bull run in auto stocks :
1) M&M
2) Escorts
3) Bosch
4) Ashok Leyland
I am particularly bullish on M&M.
Disclaimer : Bought M&M at 794
NIFTY AUTO : Inverted head and shoulder patternNIFTY AUTO
Forming inverted head and shoulder
pattern in daily timeframe.
Bullish Stocks in Auto sector:
1.M&M
2.Mothersonsumi
3.Bajajauto
4.Bharatforg
5.Amarajabat
Auto sector analysis -- Price actionAuto sector is at a good level if price breaks the resistance level in the chart auto stocks can be a good spot to be at. I've analysed and posted M_M and Tata motors. Wait for confirmation and only then take decisions. Don't predict, let the market tell you where its going. Thanks.
NIFTY AUTO Sector Predication Blast soon NIFTY AUTO
1. last 8 months consolidation price move
2. this week break sooon
3. mentioned level of closing confirmation of big rally signal
4. after expect target level same good time stock buy entry
