CNX AUTO INDEX chart techncial analysis index tips - INDEX Is moving holding strong support at current levels, will favor bulls as long as holds above. (Updated On 11th August 2014, Monday)

CNX AUTO INDEX

• CNX AUTO INDEX is moving up from 23.6% fibonacci retracement support zone as shown in graph no 1. This indicates as long as index trades above it will favor bulls, but if index closes below 6700 then further weakness is expecting as index will test 38.2% fibonacci retracement.
• Daily chat also indicates Index is holding its strong trend line support at current levels, bulls have a chance to move Auto Index from current level. Close watch bulls may get active, but if closes below its trend line support then Auto Index will get first sign of weakness.
• Suggested Reading - MARUTI SUZUKI is on the verge of bullish breakout above 2675.
• As per moving average studies, index is facing strong 50 DMA support at current levels, by looking at graph no 3. this indicates that from last 2 times auto index moved up by testing 50 DMA, this time too it is facing support, as long as holds above auto index will be favored by bull. close watch.
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