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...
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.
To motivate me, Please like the idea If you agree with the analysis.
InvestPro India Team
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.
Do follow us
Share with fellow traders
Also check the below related ideas for...
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
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