AUTOMOTIVE AXLES NEAR TERM OUTLOOK

DAILY CHART

                                                                     WEEKLY CHART

·         AUTOAXLES has formed a rounding bottom pattern formation on daily and weekly charts

·    The price breakout along with volume confirmation crossing above 10 – week EMA indicating the strength in the counter

·         The stock has formed a classical higher top and higher bottom formation

·         The stock is trading above 21, 50 and 200 – EMA indicating the positive trend

·     The stock can be accumulated around 305 (CMP) and on dips 290 below 280 on closing basis for targets of 350 above 400 (2 – 3 MONTHS).

Raju V Angadi

Equity Research Analyst

Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in markets