Based on the Wave Principle, the 75-minute structure of Eicher Motors appears to be bullish. The stock's Wave 4 correction, labelled as a-b-c, seems to be complete, indicating the potential for a 5th wave rally.
Several observations support the likelihood of a materialized Wave 5:
The Wave 2 retracement was confined between the 0.5-0.618 levels, showing a sharp decline.
Wave 3 terminated precisely around the 1.75 extension level.
The Wave 4 retracement was shallow and confined to the 0.382 level.
These observations indicate a favorable Fib relationship, following the guidelines of the Wave Principle. The expected targets for Wave 5 are between 3350-3367.
According to Trend Based Fib Time, there is a high chance that these targets will be achieved between May 2nd, 2023 to May 11th, 2023. Investors should keep an eye on Eicher Motors' stock during this period to see if these projections materialize.
Several observations support the likelihood of a materialized Wave 5:
The Wave 2 retracement was confined between the 0.5-0.618 levels, showing a sharp decline.
Wave 3 terminated precisely around the 1.75 extension level.
The Wave 4 retracement was shallow and confined to the 0.382 level.
These observations indicate a favorable Fib relationship, following the guidelines of the Wave Principle. The expected targets for Wave 5 are between 3350-3367.
According to Trend Based Fib Time, there is a high chance that these targets will be achieved between May 2nd, 2023 to May 11th, 2023. Investors should keep an eye on Eicher Motors' stock during this period to see if these projections materialize.
Trade closed: target reached:
Eicher Motors has hit the Wave 5 TGT zone
Dev Advisory