Guys EICHERMOT ready to move up keep watch and take profit
Disclaimer:
The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade.
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This one has clearly and cleanly broken out of the Bollinger bands.
More importantly it has also broken out of the downward channel decisively.
Great risk reward on the long side. Target 30700 SL below 28000
On daily chart, Eicher Motors is near over bought zone and has formed a bearish gartley pattern. 0.382 and 0.5 retracements would take price to 23925 and 23085 respectively.
Head and Shoulder Pattern on eicher motors daily chart followed by lower highs suggesting weakness should break it support level(20000) then may head towards
19k-18k.
SL should be slight above High2 (24000)
