NSE:EICHERMOT is retesting its breakout zone with RSI at 60 and support at 13DMA (not pictured here). FIB extension targets are highlighted. First resistance can be 2800 (also happens to be 23.6% FIB). A few auto stocks seem to be in momentum and have retraced so the sector seems to be in a good mood, too.
If we observe, Eicher had formed an H&S, took support and is now retesting around the left & right shoulder levels.
@MarketsWithKR, I think it may touch 3000 till month end
MarketsWithKR
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@Rahul1971, anything is possible, but i feel auto as a sector is at a crucial point. It's at a double top which could be the deciding factor from a sentiment pov. If we see a breakout then Eicher definitely has the potential to see 3k!