{"id":312,"date":"2010-08-30T02:25:15","date_gmt":"2010-08-30T02:25:15","guid":{"rendered":"http:\/\/www.cashthechaos.com\/blog\/?p=312"},"modified":"2010-08-30T02:34:36","modified_gmt":"2010-08-30T02:34:36","slug":"is-the-auto-sector-topping-out","status":"publish","type":"post","link":"https:\/\/www.cashthechaos.com\/blog\/2010\/08\/30\/is-the-auto-sector-topping-out\/","title":{"rendered":"Is the Auto sector topping out?"},"content":{"rendered":"<p>I did mention in my friday's update that a close below 5452 would be a bearish signal for the Indian market. Besides an engulfing bearish candle pattern on the Nifty, \u00a0one other key index in this bull run, \u00a0the auto index\u00a0has also formed a bearish engulfing candle on its price chart.<\/p>\n<div id=\"attachment_313\" style=\"width: 410px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.cashthechaos.com\/blog\/wp-content\/uploads\/Autos30-08-2010.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-313\" class=\"size-medium wp-image-313  \" title=\"Auto Sector\" src=\"https:\/\/www.cashthechaos.com\/blog\/wp-content\/uploads\/Autos30-08-2010-300x143.jpg\" alt=\"\" width=\"400\" height=\"200\" \/><\/a><p id=\"caption-attachment-313\" class=\"wp-caption-text\">BSE Auto Index - weekly chart<\/p><\/div>\n<p>In March 09 when the broad markets were trying to form a bottom, this sector was already on its first leg of the rally. As can be seen from the chart above, besides the candle pattern, the advance looks like a completed 5 wave advance indicating a possible exhaustion.<\/p>\n<p>Looking at the chart of Tata Motors gives a similar picture. Further negatives likely for Tata Motors if the stock starts trading below the previous week's low of 983.<\/p>\n<div id=\"attachment_314\" style=\"width: 410px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.cashthechaos.com\/blog\/wp-content\/uploads\/TTMT30-08-2010.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-314\" class=\"size-medium wp-image-314 \" title=\"TTMT\" src=\"https:\/\/www.cashthechaos.com\/blog\/wp-content\/uploads\/TTMT30-08-2010-300x176.jpg\" alt=\"\" width=\"400\" height=\"200\" \/><\/a><p id=\"caption-attachment-314\" class=\"wp-caption-text\">Tata Motors - weekly chart<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>I did mention in my friday&#8217;s update that a close below 5452 would be a bearish signal for the Indian market. Besides an engulfing bearish candle pattern on the Nifty, \u00a0one other key index in this bull run, \u00a0the auto index\u00a0has also formed a bearish engulfing candle on its price chart. In March 09 when <a href='https:\/\/www.cashthechaos.com\/blog\/2010\/08\/30\/is-the-auto-sector-topping-out\/' class='excerpt-more'>[&#8230;]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-312","post","type-post","status-publish","format-standard","hentry","category-uncategorized","category-1-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/comments?post=312"}],"version-history":[{"count":3,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/312\/revisions"}],"predecessor-version":[{"id":316,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/312\/revisions\/316"}],"wp:attachment":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/media?parent=312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/categories?post=312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/tags?post=312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}