The auto sector has been really strong lately. In 1 Daytimeframe stock is nearby its lower trendline, Currently closed to proper valuation as shown by the valuation band in 1st chart. Also taking support from Demand zone.
In the 1Hrs timeframe it has formed a triangle pattern. It has completed 38.20% retracement and also Supported by 50 daily ema.
The Indicator Used:
PANEL 1:
1) Daily Lines Plots Daily 20 (BLACK) & 50 EMA (GREY), BLUE (200 DAILY EMA ) Also On Lower Time Frame Charts.
2) Valuation band
KEYS: Red Faded Cloud: Over Valuation.
Grey Faded Cloud: Proper Valuation.
Green Faded Cloud: Under Valuation.
PANEL 2:
1) TE-REKAB - Proprietary Indicator
KEYS:
PB: Pullback
Blue Candle: Selling Divergence
Yellow Candle: Buying Divergence
If you like the analysis, do leave a like and follow for more such content coming up.
The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :)
HAPPY TRADING!!!
In the 1Hrs timeframe it has formed a triangle pattern. It has completed 38.20% retracement and also Supported by 50 daily ema.
The Indicator Used:
PANEL 1:
1) Daily Lines Plots Daily 20 (BLACK) & 50 EMA (GREY), BLUE (200 DAILY EMA ) Also On Lower Time Frame Charts.
2) Valuation band
KEYS: Red Faded Cloud: Over Valuation.
Grey Faded Cloud: Proper Valuation.
Green Faded Cloud: Under Valuation.
PANEL 2:
1) TE-REKAB - Proprietary Indicator
KEYS:
PB: Pullback
Blue Candle: Selling Divergence
Yellow Candle: Buying Divergence
If you like the analysis, do leave a like and follow for more such content coming up.
The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :)
HAPPY TRADING!!!