AUTO Sector Analysis – K Karthik Raja Rupeedesk Share Market Training- 01.03.2025
AUTO Sector Analysis – K Karthik Raja Rupeedesk Share Market Training- 01.03.2025
AUTO Sector Analysis – K Karthik Raja Rupeedesk Share Market Training- 01.03.2025
NIFTY AUTO Sector Analysis
By K Karthik Raja
Key Factors Affecting & Reasons:
- Recent decline of -4.68% signals strong selling pressure.
- 50 MA (23,949.99) is currently acting as resistance.
- Broader market sentiment and global cues influencing auto sector performance.
Key Watch:
- Support at 17,607 (150 MA) and 15,888 (200 MA) crucial for further downside protection.
- Resistance at 50 MA (23,949), needs to be reclaimed for bullish momentum.
Volume Analysis:
- 235.89M volume suggests significant participation, confirming weakness.
- Watch for increasing volume near support zones for a potential reversal.
Dow Theory Chart Analysis & Observations:
- Long-term trend remains bullish but facing correction after a strong rally.
- Lower highs and lower lows in the short term – needs higher low confirmation for reversal.
Stocks to Watch:
- Look for fundamentally strong auto stocks near support levels.
- Watch for sector rotation and relative strength against broader indices.
Market Insights:
- Short-term view: Bearish bias, potential further downside if support breaks.
- Long-term view: Still bullish, needs consolidation and trend confirmation.
Indicators:
- RSI (14) at 34.80: Approaching oversold levels, but not confirmed reversal yet.
- ADX (14) at 21.75: Weak trend strength, needs confirmation for a directional move.
Disclaimer: This analysis is for educational purposes only. Always conduct your own research before making any investment decisions.
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