Nifty Auto Index – Breakout Watch with Bullish Momentum

Nifty Auto Index—Breakout Watch with Bullish Momentum
Timeframe: Daily
Current Price: ₹24,007.95
Trend: Consolidation Breakout / Bullish Setup

🔍 Technical Highlights:

Consolidation Zone: Price has remained in a tight sideways range for the past 5 weeks (~₹23,000–₹24,000), indicating accumulation.

Breakout Attempt: Price is currently testing the upper band of this consolidation box (as seen in the green highlighted zone).

Support Zone: Strong support from both PEMA Bands and Developing Weekly/Monthly CPR (₹23,670–₹23,837).

📌 Trade Idea:
Trade Type: Positional Swing Long
Entry: On daily close above ₹24,050 with volume confirmation
Targets:

T1: ₹24,345
T2: ₹25,343
Stop Loss: ₹23,670 (below Monthly CPR and PEMA support)

⚠️ Risk Management Notes:
Risk-to-reward is favorable if entered near breakout with SL below the CPR zone.
Monitor for any rejection at weekly/monthly H3 zones for partial booking.
Avoid fresh longs if the index fails to hold above ₹24,000 by the end of the week.


The Nifty Auto Index shows strong signs of bullish momentum as it attempts to break out of a 5-week range, supported by PEMA and Camarilla levels. A close above ₹24,050 may initiate a new swing leg toward ₹25,000+.