Check Nifty Auto Index Full Analysis At Unicorn Signals

NIFTY AUTO Weekly Outlook and Analysis:

For the Week: (May 16, 2022 – May 20, 2022)

Check Nifty Auto Index Full Analysis At Unicorn Signals

NIFTY AUTO Index closed the week on negative note losing 106.10 points 1.01%.

Weekly High: 10,635.20

Weekly Low: 10,092.60

Weekly Close: 10,412.35

Weekly Support & Resistance For Nifty Auto Index:

Technically on the daily charts we see minor support on the downside for NIFTY AUTO index lies at 10200 levels, whereas minor resistance on the upside is capped around 10600-10650 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 9800 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 10900.

Currently NIFTY AUTO index is trading below 200 days exponential moving average and suggests long term trend is bearish. EquityPandit’s analyst predicts range for the week is seen from 9850 on downside and 10800 on upside.