Eicher motors closed below the 20 ema kn the weekly time frame with high volumes.
On daily analysis the stock has also breaker down the support level of 3355.
The stock seems to be in a down trend and can trade to even lower levels.
3 point confirmation.
1. Closed below 20 ema ( weekly time frame).
2. Retest of 20 ema and going below the resistance level on...
Eicher motors on the daily time frame has been trading in a narrow range of 50-60 points which is unusual of this kind of stock.
The stock on the weekly time frame has tested its 20 ema and formed a hammer doji.
The stock has been falling for 2-3 weeks and can give some retracement before continuing another leg.
3 point confirmation.
1. Taking support from 20...
Eicher motors has taken resistance from a trend line.
On a 4 hour time frame, the 20 and 200 ema has converged and a bullish candle a weekly time frame shows some bullish trend.
Support:- 2570, 2455
Resistance:- 2720, 2760
Wait for the trend line break out and 4 hour moving averages cross over.
Swing and intraday trades can be initiated on this setup.
Eicher has perfectly respected it 200 ema and a resistance level of 2570,
The stock is trading between its 20 and 200 ema on a daily time frame.
The stock has tested its level several time and if a candle close above the level of 2570 on a hourly time frame it can move further up.
Support :- 2450, 2350
Resistance :- 2570, 2650
If the stock will break the level...
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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...
Stop Loss:- 2813
Duration:- 8 to 10 Weeks
The stock has already break the resistance line and test that resistance point again and used that as a support, showing a bullish candle, which is an indication of upside move. So we can buy this at market order. Use proper stop loss and maintain discipline throughout the trading period and use trailing...
Eicher Motos is near its previous high and about to give breakout from the pattern, Once can go long if it sustains above the upper yellow line on 15 mins time-frame for marked targets on the chart.
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Stock has already break the resistance line on the upside and completed symmetrical triangle pattern, now showing a bullish candle. This is clear indication of good upseide breakout. So we can ride on that bull run.
∘ Eicher Motors Analysis
∘ Supply zone taking multiple times Resistance
∘ If zone break with high Volume go long Target marked in chart
Note : Always be extra cautious with breakout trade with confirmation .
Eichermotors is ready to give a decent target of 14% in buy side.
Initiate the trade from the given levels.
Buy- Above 2720
SL - 2660
Target - 2865 2950 3050 3100
Note:- I am not SEBI registered . All Views and trade setups are my personal view and my personal trade setup.
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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...
Enter long in Eicher Motors at current levels (2515-20) as expecting pullback from current levels.
Immediate resistance and Target will be at around 2580 and on the lower side expecting 2495 to act as Support also or SL if moves below that.
LONG - 2520
TARGET - 2575-95
SL - 2490-95