Hello All,
The recommendations are purely for educational purpose only, consult you financial advisor before trading.
Targets are mentioned in charts (either red lines or balck lines), keep Stop Loss as per your risk..
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Have a profitable year ahead
Gautam Khanna
Technical Analyst by Passion :-)
7. Nifty Auto -2.28%
3 Months - Rounding Bottom BO done. Target 19752 - nothing wrong in 3 Months / Monthly scale - its going up and wick is getting formed once in a while
Weekly - as you can see at every step - there is a Horizontal Consolidation (BOX Pattern) for some weeks then BO, again BOX BO and repeat.....
When the stock / sector has a crossed ATH and...
This indicator displays RSI in Day, Weekly and Month
Multi time frame momentums in one display..
In addition set to display RSI in color if Monthly & Weekly above 60 and Daily above 40.
Best used with Volume Indicator for detecting reversal at 40 RSI
Auto index need to hold the support level, we will have to see how the market reacts to the all the auto earnings numbers over the weekend. Coming festive season is a exciting sign for auto index. we shall see if it holds up or breaks below.
Nifty auto trading in a channel and reached the upper end of the channel in monthly timeframe. EXPECTING A BO in the structure bt beware of trapping if happens onn upper levels. Bais is CAUTIOUSLY BULLISH at current levels.
CNXAUTO having similar chart structure, it may correct upto 50%, from the recent swing low, so please avoid long and if any opportunity in smaller time frame, we can have short in auto stocks
During this fall, it will take a pull back, time your entry and make 💰💰
cnxauto aka nifty auto given an all time breakout of a long term upper trendline sector and all the components of the mentioned stocks is also following the same trend of the index one can add auto stocks on dips this sector can be leading sector soon
Long base has been formed in ratio chart any breakout this base will give good upside in auto stocks. Hence, keep auto stocks in radar and also this chart. If breakout is not happening then don't go long there
There is a clear BREAKOUT on the WEEKLY CHARTS!!!!!!!!
See the Comparative chart analysis, TVS Motor, M&M, Eicher Motor and TATA Motor are more likely to outperform the AUTO INDEX!!!!!!!!!
This seems to be the footprint of a future rally in auto stocks. And there is a large possibility that TVS Motor, M&M, Eicher Motor and TATA Motor will lead this rally and...
🚗 #NIFTYAUTO is currently trading in a consolidation zone, with the price hovering near the upper boundary. This level has proven to be a tough resistance for the price in the past, with the range of 13455--13544 being a major obstacle to overcome.
📈 However, if the price manages to break out of this resistance area and closes above it on the weekly chart, we...
Nifty Auto appears to be at bad Risk/Reward ratio.
Relative Momentum Indicator is pointing to temporary peak.
Better to avoid fresh Longs.
Since there are sectors which are doing well, I would concentrate on them rather than trying to find short trades in Auto. Especially when the Nifty is looking bullish.
