Eichermotor 1hr Analysis
Eicher Motors is following very good price action and it is facing good rejections at 2600 levels making a proper Head and Shoulders pattern. If the neckline which acts as major support breaks a nice fall is expected with RRR of 1:2. Also, a breakout from the trend line is expected as it is continuously getting rejected from it and a breakout can give good targets with RRR being 1:2.
Breakdown Trade -
Sell-2500
SL-2530
TGT- 2425-2430
Breakout Trade-
Buy-2540
SL- 2500
TGT-2600
Breakdown Trade -
Sell-2500
SL-2530
TGT- 2425-2430
Breakout Trade-
Buy-2540
SL- 2500
TGT-2600
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.