EquityPandit’s Outlook for NIFTY Auto for the week  (Apr 02, 2018 – Apr 06, 2018) :  

NIFTY AUTO:

Nifty AUTO index closed the week on positive note gaining around 1.70%.

As we have mentioned last week, that support for the index lies in the zone of 10500 to 10600 where the index has taken support in the month of September-2017. If the index manages to close below these levels then the index can drift to the levels of 10200 to 10300 where Fibonacci levels are lying. During the week the index manages to hit a low of 10569 and close the week around the levels of 10821.

Support for the index lies in the zone of 10500 to 10600 where the index has taken support in the month of September-2017. If the index manages to close below these levels then the index can drift to the levels of 10200 to 10300 where Fibonacci levels are lying.

Resistance for the index lies in the zone of 11000 to 11100 where Fibonacci levels and long term moving averages are lying. If the index manages to close below these levels then the index can move to the levels of 11500 to 11600 where Fibonacci levels are lying.

Broad range for the index is seen from 10200 to 10300 on downside & 11200 to 11300 on upside.