Auto move to South?can see a RSI divergence in the chart, we may witness some downfall in coming days before it can go forward.
Nifty Auto !!! Almost der for sellingHello 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
Nifty Auto index cautiousmoving averges
below 20 EMA
Daily RSI below 60
support 17023 as 50 EMA
major support 16652
Decoding the Mystery Behind Dec 20 Fall - Part 77. 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
RSI Multi-time frame Green Color if M & W Abv 60 and D Abv 40This 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
AUTOAuto 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 AUTONifty 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.
History repeats itselfCNXAUTO 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 💰💰
NIFTY AUTOAfter consolidation, it is on way to break upper end of the channel line. Stocks from this sector may be kept in radar for coming week.
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