EICHER MOTORS LTDShort
Eicher Motors : Intraday Trade| 17th May
Updated
Stock has been trading in a range which is getting smaller and smaller. Volumes have been decreasing all this month.
If stock breaks lower TL (2400 levels) then can target 2375, 2355 and 2330 levels.
Consider upside (1-2%) if upper trendline breaks and stock crosses 2485 successfully.
P.S. As usual fall would be quite faster compared to the rise. Looks likely to fall and test the support zone on the downside however either side movement is possible.
If stock breaks lower TL (2400 levels) then can target 2375, 2355 and 2330 levels.
Consider upside (1-2%) if upper trendline breaks and stock crosses 2485 successfully.
P.S. As usual fall would be quite faster compared to the rise. Looks likely to fall and test the support zone on the downside however either side movement is possible.
Trade closed: target reached
Good set up, 1% captured
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