Nifty Auto Outlook for the Week (Nov 09,2020 – Nov 13,2020

If NIFTY AUTO index breaches small support on the downside and closes below it, we may see fresh break down and index can drag towards major assistance on lower side around 7400 and if breaches small resistance on the benefit and closes above it, we may see fresh breakout and index can head towards greater levels around 8100.

Weekly Close: 7,758.40.

ASSISTANCE 1.
7,599.

Technically on the daily charts we see small support on the disadvantage for NIFTY AUTO index lies at 7600 levels, whereas minor resistance on the benefit is topped around 7900-7950 levels.

RESISTANCE 1.
8,026.

Currently NIFTY AUTO index is trading above 200 days exponential moving typical and recommends long term trend is bullish. EquityPandits expert predicts range for the week is seen from 7450 on disadvantage and 8000 on advantage.

COOL AUTO index has formed lower low lower high development on daily charts. Index closed below its increasing trend line. We expect index continue this down relocation and likely to witness profit reserving going forward.

Weekly High: 8,135.35.

NIFTY AUTO Index closed the week on unfavorable note losing 336.20 points 4.15%.

ASSISTANCE 2.
7,439.

For the Week: (Nov 09,2020– Nov 13,2020).

Weekly Low: 7,707.90.

Weekly Support & & Resistance For Nifty Auto Index:.

RESISTANCE 2.
8,294.