shikhagupta2589

Eicher motors: Good stock for buying but needs confirmations

NSE:EICHERMOT   EICHER MOTORS
Eicher motors has come up a long way from recent bottoms. It is still a strong candidate but needs confirmations.

Scenario 1:
It can retest its support bed (although week) range 2012-2065. If we see strong rejections from bulls then we can enter the positional trade.
In this case the trade should be placed as follows:-

Entry: 2050-2100
Target: 2400 - 2900- 3168
SL: 1990

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Scenario 2:
If it breaches its current monthly resistance placed at 2201 strongly with larger candles going beyond 2250, then the trades should be placed as follows:-

Entry: 2273
Target: 2400 (we need to again check for further target confirmation going towards 2900- 3168)
SL: 2200


Keep following for the confirmations


Comments

I am holding it past two years @ 2550 and not able to recover from it. I am looking for scenario 1.
+2 Reply
Crossed your buy today.
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Running for its final target
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@fzxjmz Hit 2588 today

you will see the targets I have mentioned above hitting soon. Hold your horses
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fzxjmz shikhagupta2589
@shikhagupta2589, Yes. I sold it at yesterday's high (today) and regards to you for lifting me up.
Reply
Running towards second target.
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