Eicher motors has fallen from its high by about 20% and we may be looking at a double bottom reversal as it rests on the 200EMA.
According to option chain data, 3100 is a strong support.
According to Multi strike OI, calls graph is falling which shows a bullish Singal and puts graph is rising which shows an even more bullish signal.
Targets of T1 and T2 with...
Beautiful number of confluences have been shown by NAUKRI
1. Support of the 50EMA
2. Support of the trendline
3. Break of 200EMA
4. Very favourable and quick risk to reward ratio
All this was done on above average volume making a high probability for a long trade.
Target should be at the next level of confluence 4881.
Keep It Simple
Hindalco gives an opportunity for a long trade by numerous confluences
1. consolidatory break of the 200EMA
2. Break of Resistance zone
3. Favourable risk to reward ratio
4. High Volume
5. Upward channel support
Stop Loss below the recent consolidation low
NSE:HINDUNILVR
HUL BO & Retest pattern above 200 day EMA (blue).
currently trading above all major moving avgs..
If closes above 200 ema today then can initiate buy positions for longer term.
Very less risk takers can keep SL below last candle which is around 2250..
Positional Traders keep SL below 50 ema (orange) now. and later can trail with 200 ema breakdown...
INDIGO after a steep rally of 15%, now after crossing 200-day EMA it is consolidating above 200-day EMA. Once it breaks the range upside, it may continue its uptrend to give higher levels.
