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Nifty Auto, Metal indices trading in thin range; here's how to play them

The best trading strategy Nifty Auto index would be to sell near resistance levels until we get close above new high

stock market, markets, trading, nse, bse, sensex, nifty, rally
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Illustration: Ajay Mohanty

Ravi Nathani Mumbai
Nifty Auto Index
CMP: 12,832.40


The short-term chart pattern is Flat on Weekly charts as the previous swing life high & swing low was a correction of 8 per cent between September 12-26, 2022. Next rally was covered in 7 weeks between Sept 26 – Nov 7, 2022, with a gain of 9.54 per cent. The next correction was an exact 125 per cent of first correction, which indicates a flat pattern on charts. The last swing triggered a new low, indicating a lower bottom formation. This means, until the index cross lifetime high level every upside will be

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