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AUTO SECTOR TECHNICAL ANALYSIS
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Let's start with analyzing #Niftyauto -
Gave H&S breakout but look support on 200 EMA and reversed. Need to cross right shoulder to confirm the reversal.
Now let's take a look at few auto sector companies charts.
(Retweet for wider reach)
Let's start with analyzing #Niftyauto -
Gave H&S breakout but look support on 200 EMA and reversed. Need to cross right shoulder to confirm the reversal.
Now let's take a look at few auto sector companies charts.
Let's start with the one with the strongest chart - #BalkrishnaIndustries
Trading near ATH levels, when the whole nifty auto index was going down, it corrected only 10% and was the 1st one to recover.
A close above 2560 will take it to a target of 2776.
Trading near ATH levels, when the whole nifty auto index was going down, it corrected only 10% and was the 1st one to recover.
A close above 2560 will take it to a target of 2776.
Next one we're gonna take a look at is - #eichermotors
Finally crossed the gap region (2850) that was acting as resistance. With good volume expansion.
If closes above 3037, can easily reach 3223 & 3348.
Finally crossed the gap region (2850) that was acting as resistance. With good volume expansion.
If closes above 3037, can easily reach 3223 & 3348.
