CNXAUTO trade ideas
CNX AUTONote:
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END OF RUNNING CORRECTION.BOUNCE TILL 10400 IS EXPECTED AS CMP IS 10000 WHICH IS 61.8% RETRACEMENT OF MOVE FROM 9841 TO 10265 ALONH WITH 1:1 CORRECTION TARGET FOR WAVE C OF RUNNING FLAT ABC CORRECTION.
nifty auto at a very important levellevel 10300 is where the stock is struggling to break and is been rejected
level 10250 is a fib level on daily time frame 61.8 per
if level 10250 breaks then the stock can go down till 9940(not in a day but in this week)
but if tomorrow get bullish then and breaks the level 10380 umm take 10400 thats better we can possibly see a uptrend move
NIFTY AUTO HARMONIC PATTERN Nifty Auto is now reacting from Monthly supply zone as well as there is a hamonic pattern.
Looking at current buying pressure this will be risky setup but lets observe how it will react.
Nifty Auto Index - Moving towards 12000 LevelsExplained in the chart what happened already and why it happened and what to expect as a target.
Nifty Auto- Weekly ViewNifty Auto last week able to break our Shooting Star and now currently chart trading below the support level and we can see some major downside towards 9400 levels as per chart with the help of 10200 resistance level on the chart.
If Nifty Auto able to reclaim the 10600 levels again and sustain above this we can see some upside on chart.
Road ahead for Nifty and BankniftyIn this video I have tried to discuss critical levels of Nifty and Banknifty and the rationale behind them. Also i have tried to squeeze couple of sectoral indices so as to have a better view to approach markets going ahead
Nifty Auto/Nifty Ratio Chart Weekly BreakoutNifty Auto/Nifty relative strength chart (CNXAUTO/NIFTY) seems to have broken out of it long held weekly resistance. If this breakout goes through, we can see cyclical bullish trend on all major auto stocks. Looks like bullish times ahead for India's auto industry!
nifty auto 🏍🛵🚗🚓🚕🛺🚙🚌🚐🚑🚒🚍NSE:CNXAUTO
if know such skill then you can get perfect sector at right time to invest in and same way if you know such skill that will help you to disinvestment in same sector at right time , as right time entry is most important in such stocks( sectors) same way right time exit or partial booking profit also must required. keep earning keep learning.
Learn . Apply . Grow (if one can find breakouts can hold for some more time with trailing basis stop loss)
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
Nifty Auto- Weekly ViewNifty Auto last week tried to breakdown but not able to sustain and bounced the very next day and on Friday. The index was able to break ascending channel resistance. But this breakout did with shooting star which is a bearish pattern, so we need to wait here for both side confirmation.
Nifty auto, if able to break 10750 levels and sustain above this we can see possibly strong upside or if Nifty Auto breaks 10250 levels and sustain below this we can see major downside towards 9750/9500 levels on chart.
Supply ?As soon as index entered into previous supply bzone of 10560-11300, it encountered first supply. Pull back towards 9400-9200 might be an opportunity to enter fresh long. Auto is in clear uptrend. Once the supply in the zone gets completed then we'll see fresh highs.
Nifty Auto ChartIndex Chart-
Nifty Auto-
Formations-
1. Index trading in ascending Channel
2. Index near resistance and zone selling seen
3. Reversal confirmation below 10000 level
4. 10300 is the resistance level.
CNXAUTO - Trendline ObservationsTrendline Observation(s). A simple trendline breakdown on 30M Chart of CNXAUTO below 10090. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
Auto sector aiming for new HighLast high of NIFTYAUTO was dec 2017 at 12k , it still has 20% upside remaining to go to previous high. Auto sales are expected to grow. Aiming for 30-40% upside from here.
Nifty Auto - bouncing from strong support#Nifty #Auto Bounced from resistance turned support and looks equally strong relative to Nifty. Continued momentum in Nifty might see new highs made in Auto large caps. YoY Dec-20 quarter results are hinting at a recovery too
