Heromotocorp looking Bullinsh above 2785 , Faliing trendline breaking with increasing volume , outperforming nifty wait for close above 2785
NiftyAuto trend approaching multiyear resistance and if this breaks we may see good rally in auto sector stocks
Nifty Auto sector approaching multiyear resistance ..if it breaks we may see good rally in auto sector stocks
Chart is self explanatory. Don't invest and trade blindly,
CNX Auto is close to a breakout .A Inverse Head and shoulder is formed at two location . Buy above 10490 , Sl 10380 , Target -10940
MAHINDRA & MAHINDRA is making triangle pattern and taken support from a very strong support zone, now can retest and then target is of the green line sl will be or the short can be below the black line.
TATA MOTORS is making atringle pattern can also make a head and shoulders pattern from here or can do a breakout.
BAJAJ AUTO is making a narrow range and now again touch the upper black line. It has taken support from the bottom black line.
Apollo Tyres was in consolidation since january and now seems to gave a good breakout . As India seems to be in an end stage of covid crisis, Auto Industry might give great results next quarter.
Bajaj Auto seems to have gone into a consolidation phase , A 15-20% of gain can be expected in coming 2-3 months .
Triangle Pattern Breakout in Eicher Motors. Nifty Auto also forming Triangle Pattern , Bullish on Auto Sector for next 3 Months.
This sector is in correction, if the companies upgrade theirselves with the new technologies (Like Uber and Tesla) then chances are very high that correction will be more in up direction (like running correction).
With the breakout given on 4th June and retest completed on 7th June one can long Heromoto above 3075 with a stoploss of 3040-3035 for targets 3140 and 3200.
A perfect move along the trendline, looking very good towards life time high !!
Rising RSI and the price also following the trend line, it is about to break the upper resistance. we may expect a break out soon, if the volume supports the breakout then you can go for long. Thank you.
Correction is almost done with BAT Pattern confirmation. Possible tgts 7k and 7200
(1) Classic Crab pattern with 1.618 FIB and 0.886 FIB for point B and C (2) 1.618 FIB via trend based FIB Extension from ABC and project it down with 1.618 FIB around 804 (3) 1.618 FIB Retracement from B to C downwards at 827. (4) DEMA 400 around 780 Nice and clean long setup with SL around 775 possible tgts are 850 and 870