Aditya_Pal_Singh

EICHER MOTOR HEAD AND SHOULDER BREAKDOWN

NSE:EICHERMOT   EICHER MOTORS
Eicher Motor has given a breakdown of a Head and Shoulder formation on a daily chart .

Right now the price is at a crucial level hovering in the Supply and Demand Zone. If this zone act as support then a pullback from the neckline and after a possible retest of S&D zone the peak of the shoulders Rs . 2700 will be our 1st target and after that, if bullish momentum continues Rs . 3000 can be our 2nd target.

If the price goes below the supply and demand zone then it can come back to retest this level and then continue a bearish move for the target price of around Rs . 2015.