Again reversing from the resistance level. Let's give it one more week and observe reliance how it is behaving. Otherwise it can turn in bull trap.
There may be good stories in media for this sector but the chart is showing something else. So it is better either to book profit or to tight the SL
It seems some more time is required to get it out of woods in ratio chat. So for a while book some profit here and find something else. One may try metals. It is coming out of good consolidation but the problem with metals is volatility. If one can handle its good space to be currently
Just tighten you SL if your are having positions in Auto stocks. It seems that there may be some underperformance in coming days from this sector.
It is consolidating in small range for last 3 week. There can be trending move in either side in coming week. Bias is on long side as natural gas has already given a move, crude can be the next candidate.
It seems that it is trying to touch the breakdown line and it can go down again. It can be low risk entry point
The sector is underperforming since long and now it seems it has broken out but monthly closing is yet to come. And 2000 note circulation limitation will surely give negative impact on this sector hence if this jerk is born by this sector then there is huge upside here