m2gud

EICHERMOTOR, 1D, FUNDAMENTAL + TECHNICALS (FUNDA-TECHNO)

Short
m2gud Updated   
NSE:EICHERMOT   EICHER MOTORS
EICHERMOT 1D, is at 52 WEEKS HIGH now.

FUNDAMENTALS: Eicher motors posted NEGATIVE results since 3 quarters and stock still makes 52-weeks high which doesn't look sustainable to me.

TECHNICALS : stock forming DOJI on top and trend reversal may happen .

My view : Eichermot may fall and I'll short ONLY below the Low of doji .

Trgt is near 2300

It may retrace back from 2300 and again start moving in Channel or it may break 2300 level and fall more.

PS: SHORTING ONLY BELOW 2500.

Trade closed manually: Not Activated : Price did not come to our level for shorting opportunity.
Comment: Price took support near our level and again went up as said before.
Comment: Level activated & moved accordingly as Marked.. now once again level hot activated... lets see if it again touch our trgt or not

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.