This is a weekly chart of Nifty Auto index (CNX Auto). Since Dec 17, the stock is facing a serious resistance around 12000. It has taken a multiple resistance in near past. However, the index is again trying to test its resistance. Close above 12000 levels would mean a fresh breakout on medium to long term charts. Keep in watch Ashok Layland, Maruti Suzuki, Tata Moters, M&M, Eicher moters. Go long in these industry leaders if you see 12000+ weekly closing.
Note
Closing just above 12000
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.