Nifty Auto:
Recently in good trend.
- It has reclaimed the tops of Jan 18 after seeing big dip in Covid times in Nov 21 and has given strong breakout above these highs. Breakout level 12k-12.2k.
- Retest done close to breakout level ~12.2k with rejection for going further down.
- With Stop level of 12k has good Risk to Reward for long opportunity
- Well poised for auto cycle revival
Watch this closely.
Recently in good trend.
- It has reclaimed the tops of Jan 18 after seeing big dip in Covid times in Nov 21 and has given strong breakout above these highs. Breakout level 12k-12.2k.
- Retest done close to breakout level ~12.2k with rejection for going further down.
- With Stop level of 12k has good Risk to Reward for long opportunity
- Well poised for auto cycle revival
Watch this closely.
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