Nifty Auto Index: Is the Rally Over or Just a Pause? - 22.03.2025
Nifty Auto Index: Is the Rally Over or Just a Pause? - 22.03.2025
Nifty Auto Index: Is the Rally Over or Just a Pause? - 22.03.2025
Nifty Auto Index: Is the Rally Over or Just a Pause? - 22.03.2025
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant Key Factors Affecting & Reasons
- The index is in a strong long-term uptrend but has recently witnessed a pullback.
- 50-day MA at 23,925.22 is acting as resistance, while 150-day and 200-day MAs at 17,808.89 and 16,053.20 provide strong support.
- RSI at 44.35 indicates neutral momentum, suggesting indecision among traders.
- MACD remains in the negative zone, signaling possible weakness ahead.
- ADX at 24.64 suggests trend strength is weakening.
Key Watch
- Support levels: 20,000 | 17,800
- Resistance levels: 23,900 | 25,000
- A breakout above 23,900 may lead to further bullish momentum, while a drop below 20,000 could trigger more downside.
Volume Analysis
- Trading volume at 194.59M, lower than the average 260.50M, indicating reduced participation.
- Watch for a volume surge to confirm any breakout or breakdown.
Dow Theory Chart Analysis & Observations
- The long-term trend remains bullish, but short-term correction is ongoing.
- The price is currently testing crucial moving average support zones.
- A sustained move above 22,500 would reaffirm bullish sentiment, while a close below 20,000 could invite further selling pressure.
Stocks to Watch
- Maruti Suzuki
- Tata Motors
- Mahindra & Mahindra
- Bajaj Auto
Market Insights: Short-Term & Long-Term View
- Short-Term: The index is in a consolidation phase, and a breakout above 23,900 is needed for a fresh rally.
- Long-Term: Bullish trend intact, and dips could be buying opportunities for long-term investors.
Disclaimer : This analysis is for educational and informational purposes only. It does not constitute financial advice. Please conduct your own research before making investment decisions.
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