NSE:EICHERMOT
As one can see on chart, Eicher motors share heading towards harmonic support ones it enters in harmonic PRZ then wait for perfect reversal then only go for swing long as per your trade setup.
******whatever charts or levels sharing here are just for educational purpose only, not a recommendation. Please do...
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...
• Channel since May 2020.
• Stock at Big time support.
• Has the support of 200-day Exponential Moving Average.
* Educational Purpose Only *
NSE:EICHERMOT
On 24 Dec2020, Price broke the flag pattern at 2446 and reached the first target of 2616, now If we buy at price of 2777 then the target will be 3165 and need to keep the Stop Loss of 2393 based on 1:1 risk reward ratio.
N.B discuss your financial advisor before you take trade or invest
