m2gud

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

Short
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