In the Weekly Chart of CNXAUTO ( Nifty AUTO ), we can see that, It gave a bounce back from Breakout Range Zone. Let it Auto Shares retest for 1 or 2 Week.
NSE:CNXAUTO Relative strength compared to Nifty 50 - NIFT Auto clear outperformer since Jan 2023. Remember Nifty 50 is on downtrend while Auto is on uptrend. Now look for stocks which have better chart pattern than NIFTY Auto. These are going to perform better once NIFTY 50 turn positive. Some examples. 1) NSE:M_M 2) NSE:MAHINDCIE 3) NSE:APOLLOTYRE...
NIFTY FMCG and NIFT AUTO outperformed last week Stocks: ITC - BRITANNIA - M&M - NDR AUTO COMPONANTS - AUTOMOTIVE AXLES
PRICE MOMENT FOR THE WEEK .DOUBLE TOP ON WEEKELY TIME FRAME DISCLAIMER: This is my own analysis and you do your own analysis before you take any trade and I am not SEBI registered and contact your financial adviser before taking any trades .I am not responsible for your profit or loss. This is only for educational purpose and learning.
Till the time nifty auto index is above the support zone highlighted in red, it is in bull phase.... I had UTI transport fund as a basket approach. UTI transport fund is replica of auto index...
CNX AUTO HAD AN EXTENDED WAVE 3.BY RULE OF ALTERNATION,Amplitude of 5 and structure has to be like 1.1 Terminated in a complex correction .Wave 5 seems to be doing it
Good days over for nifty auto now we can see downfall in auto sector
This is the most interesting chart of this week. This is a weekly chart of Nifty Auto Index (CNX AUTO). In Dec 17, Auto index made its all time high around 12000 and since then the stock is consolidating below that level. Even in recent times the index tested its resistance, however, this week the index is able to give a clear breakout. This will provide a very...
This is a weekly chart of Nifty Auto index (CNX Auto) . Since Dec 17 , the stock is facing a serious resistance around 12000 . It has taken a multiple resistance in near past. However, the index is again trying to test its resistance. Close above 12000 levels would mean a fresh breakout on medium to long term charts. Keep in watch Ashok Layland, Maruti Suzuki,...
NIFTY AUTO - Doji formation at major supply zone This shows high level of indecisiveness in Auto stocks by both bears and bulls. A breakout above 12052 levels will prove to be a bullish case.
Worst scenario for those who are bullish thinking of potential Cup with Handle pattern formation on a broader outlook or reverse Head & Shoulder pattern on a narrower outlook. If you look carefully, you can see the descending broadening wedge clearly as highlighted in my chart. You can zoom out to see the broader view of my chart with all the...
Market's do not trend all the time. After a strong trend in either direction, the market goes into consolidation mode where it chops between a range for weeks to months trapping both sides. It is best to sit on the sidelines as getting the direction right in such a situation doesn't provide the best risk:reward
Important levels in nifty Auto Tata motors and other auto segment companies will boom in some months. But the time is now to get in the auto segment.i can say one month of time duration to enter in it.
Alll the pattern ideas in nifty Auto Head and Shoulders pattern perfect analysis
CNXAUTO (AUTO INDEX-NSE) has crossed 50% Fibo Level and closed above 10750. One can enter a fresh buy above 10790 important resistences are 10830 & 10925. For entering a fresh sell trade wait for 50% Fibo Level - 10750 and important supports are 10700 & 10670. Reach us on TradingView to get Free Access to our Indicators! Find BOBALGO on Tradingview.com Whatsapp -...
More downside possible since support broken Double Top minimum target not yet hit
nifty auto made w (double bottom) pattern on a strong support on daily timeframe and gone bullish retraced a little bit took support and ready to go!! It comes near previous high, if it breaks that level then good fot us