Nifty Auto
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The Auto Index is doing well on the charts, which is a good sign. Keep an eye on it and also watch out for top performers like Hero Moto, Baja-Auto, and TVS Motor.
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I am holding heromoto and tata motors Nov futures. Breadth is neutral. Price is bullish. Looks good for longs.
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Interesting chart setup @Mangesh-Joglekar
On the Candlestick chart, the index has formed a 3C Pullback - Bullish pattern, and resuming the northward journey indicates the strength in the index.
Not only the Nifty Auto Index but also the Healthcare and Pharma sector indexes are forming the same candlestick pattern. I found this using the Scanner feature of the Zone App of Definedge.
Heard this pattern for the first time? Read about the pattern here https://www.definedgesecurities.com/trading-strategies/3c-pullback-pattern-trading-strategy-on-candlestick-chart/
