The BSE sectorial index AUTO is forming descending triangle. The MACD is forming lower lows and is below the zero line at -11.4. The RSI is also forming the lower lows and just below the 50 level which shows that the bears has started to gain dominance in auto sector. BSE AUTO is trading below it's 100 day simple moving average and falling towards 200 day simple moving average, once it break through it, the weakness in this sector will be more visible.
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