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Nifty Auto likely to rebound, sell Nifty Metal on rise, says Ravi Nathani

The technical analyst expects the Nifty auto index to shortly see a rebound, while the metal index could underperform

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Ravi Nathani Mumbai
Nifty Auto

Outlook: Buy on dips

Last close: 12,141.95

The current market price of Nifty Auto index is 12,141.95. Its short-term performance is characterized by significant drops, which has resulted in its current position, hovering around its support levels.

On analyzing the daily chart pattern, it is evident that the support level for this index is anticipated to be in the range of 11,800-12,000. For traders and investors, the ideal trading strategy within this range would be to purchase on dips, as a technical rebound may be expected shortly in the index and its components, with a target price

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First Published: Mar 22 2023 | 8:27 AM IST

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