EquityPandit Thanks Viewer & Clients For The Love & Support  In The Year 2019.  The Time Has Come To Say Goodbye To Year 2019. We Wish Best Of Luck For The Year 2020. 

HAPPY TRADING !!

NIFTY AUTO:

NIFTY AUTO Index closed the week on positive note gaining 72.35 Points 0.89%.

Weekly High: 8,228.45

Weekly Low: 8,120.45

Weekly Close: 8,205.90

Technically on the daily charts we see minor support on the downside for NIFTY AUTO index lies at 8100 levels, whereas minor resistance on the upside is capped around 8275-8300 levels.

If NIFTY AUTO index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 7900 and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 8450.

Currently NIFTY AUTO index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 8000 on downside and 8400 on upside.

RESISTANCE 2: 8,292

RESISTANCE 1: 8,249

SUPPORT 1: 8,141

SUPPORT 2: 8,076