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m2gud
Nov 15, 2020 4:37 AM

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

NSE:EICHERMOT1D
EICHER MOTORSNSE

Description

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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

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Not Activated : Price did not come to our level for shorting opportunity.

Comment

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Price took support near our level and again went up as said before.

Comment

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Level activated & moved accordingly as Marked.. now once again level hot activated... lets see if it again touch our trgt or not
Trend AnalysisSupport and ResistanceCandlestick AnalysisDojiBESTbuyshortintradayindianstocksprofitmultibagger
Comments
Firestorm_11_
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Hey, so I just looked at the 1W chart of this stock. This is the first time that I have seen a stock giving returns of around 11,500%(since 2008-2017)! I am trying to understand why that is so? What made the stock rise so rapidly?

P.S. I am new to the stock market :)
m2gud
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Hi @banka_pranjal, Thanks for your question. Eicher motor is a large cap company into commercial vehicle business. If u dont know it is a parent company of Royal Enfield motorcycle too. Overall Comapany is good for long term holding. And when you see other popular company chart from 2008, most of them gives very good result. Stock prices is basically the Valuation of the company .
Firestorm_11_
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@m2gud, Thanks for your reply :). Will definitely read more about this company.
m2gud
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@banka_pranjal, all the best.
uditkumar0704
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NICE WORK
m2gud
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hi @uditkumar0704, thanks :)
rajesh2467
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it has done abc correction on down side on Monthly/weekly now for up side. look at volumes...all time high (monthly).
m2gud
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HI @rajesh2467, Thanks for your valuable View. But If you are watching Monthly chart, then u r looking this stock for very long term holding... This Analysis is for short -term holding using Daily chart. If you see , today is also the indecision day for this stock. As far as regarding abc correction...that I don't know. We only trade probabilities. If Price Falls , Shorting is below low of doji only.
rajesh2467
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@m2gud, thanks for responding with your view.
m2gud
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@rajesh2467, ;)
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