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NIFTY AUTO

Nifty Auto Outlook for the Week (May 01, 2023 – May 05, 2023)

Check Nifty Auto Index Full Analysis At Unicorn Signals

NIFTY AUTO Weekly Outlook and Analysis:

For the Week: (May 01, 2023 – May 05, 2023)

Nifty Auto Outlook for the Week (May 01, 2023 – May 05, 2023)

NIFTY AUTO Index closed the week on positive note gaining 290.50 points 2.25%.

Weekly High: 13,208.65

Weekly Low: 12,838.20

Weekly Close: 13,189.25

Weekly Support & Resistance For Nifty Auto Index:

RESISTANCE 213,449                              
RESISTANCE 113,319
SUPPORT 112,948
SUPPORT 212,708
Nifty Auto Outlook for the Week (May 01, 2023 – May 05, 2023)

Technically on the daily charts we see minor support on the downside for NIFTY AUTO index lies at 13,050 levels, whereas minor resistance on the upside is capped around 13,300-13,350 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 12,900 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 13,450.

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 12,950 on downside and 13,400 on upside.

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