Nifty Auto (Weekly):
1. Currently in the consolidation range
2. The sector is on the verge of breakout, therefore if Nifty closes above 16400, Nifty Auto can give a good move above 11500
3. Also, the sector has retraced from 50% Fibo levels making a Higher low
4. We can start adding up Auto stocks whose pattern looks similar to Nifty Auto for Portfolio Building
5. Also there is Positive crossover of 5,13 EMA
6. The sector has also given the weekly closing above 20 Moving Average
Note: The above post is only for educational purpose
Any thoughts?
1. Currently in the consolidation range
2. The sector is on the verge of breakout, therefore if Nifty closes above 16400, Nifty Auto can give a good move above 11500
3. Also, the sector has retraced from 50% Fibo levels making a Higher low
4. We can start adding up Auto stocks whose pattern looks similar to Nifty Auto for Portfolio Building
5. Also there is Positive crossover of 5,13 EMA
6. The sector has also given the weekly closing above 20 Moving Average
Note: The above post is only for educational purpose
Any thoughts?