Eicher Motors is showing signs of short-term distribution after a strong uptrend. The price has been consolidating near the ₹6,850–₹7,050 resistance zone, which has acted as a supply area multiple times in recent sessions.
Following an extended rally from the breakout of the symmetrical triangle, the stock appears to be entering a cool-off phase — likely testing lower supports such as the golden zone (₹6,300–₹6,450) or mid support (₹5,900–₹6,000) before resuming its larger trend.
🎯 Key Levels:
CMP: ₹6,886 (+1.17%)
Resistance / Distribution Zone: ₹6,850 – ₹7,050
Golden Zone (Retracement Support): ₹6,300 – ₹6,450
Mid Support: ₹5,900 – ₹6,000
Stop-Loss (if long): Below ₹5,850
📊 Technical View:
Price facing resistance near prior highs, forming short-term distribution structure.
EMA alignment still bullish, but price is attempting a short-term retest.
Golden zone coincides with 38.2–50% retracement levels from the prior rally.
A reversal candle or bullish pattern in the golden zone could present a buying opportunity for swing traders.
🧠 View:
Eicher Motors remains structurally bullish in the medium term, but a short-term pullback is likely. The ₹6,300–₹6,450 golden zone will be key for a potential bounce, while ₹7,000 continues to act as the ceiling until a clear breakout occurs.
Following an extended rally from the breakout of the symmetrical triangle, the stock appears to be entering a cool-off phase — likely testing lower supports such as the golden zone (₹6,300–₹6,450) or mid support (₹5,900–₹6,000) before resuming its larger trend.
🎯 Key Levels:
CMP: ₹6,886 (+1.17%)
Resistance / Distribution Zone: ₹6,850 – ₹7,050
Golden Zone (Retracement Support): ₹6,300 – ₹6,450
Mid Support: ₹5,900 – ₹6,000
Stop-Loss (if long): Below ₹5,850
📊 Technical View:
Price facing resistance near prior highs, forming short-term distribution structure.
EMA alignment still bullish, but price is attempting a short-term retest.
Golden zone coincides with 38.2–50% retracement levels from the prior rally.
A reversal candle or bullish pattern in the golden zone could present a buying opportunity for swing traders.
🧠 View:
Eicher Motors remains structurally bullish in the medium term, but a short-term pullback is likely. The ₹6,300–₹6,450 golden zone will be key for a potential bounce, while ₹7,000 continues to act as the ceiling until a clear breakout occurs.
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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.
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.