1. Eicher formed today on
2. Next Support is seen around 18200 Levels.
3. Resistance between 19250-19500
4. RRR is around 2 which is good
5. Selling with strong volumes.
1. Stock is already in down trend
2. at 26 indicating oversold thus chances of reversal.
Trade is at Confidence level of 80%
Hedge the position by buying 19500 . The hedge will be used to cover gap up openings due to overnight news if any. The Hedge will be closed/carried based on market opening.
Keep holding the futures Lot.