Expecting a small correction in the AUTO SECTOR

I am expecting a small correction in the Auto sector. It is because the price is facing resistance on the upper trendline. The MACD indicator is showing a small divergence as the MACD Line didn't went up when the price went up and giving random crossovers. It is moving in a range but the prices went up in past one month.

The same is with the RSI, there is also a small divergence as the RSI is moving in a range and didn't went up with the prices in the past one month indicating loosing momentum.

I am expecting the prices to correct and test its 50 EMA levels and extremely it could test the lower Trendline. But not expecting a Bear trend or a trend reversal, as the Sector has outperformed NIFTY 50 for the last 1 year. It is a good time to book partial profits and re enter at lower levels.

Disclaimer : It is my own view and analysis. It is for educational purposes and not any type of Recommendation, call or a tip.

Catatan

Correction did come but it was not as per my expectations. I expected more.

Kunal-Battu

Pernyataan Penyangkalan

Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.