Can buy for short-term as I see reversal in the daily charts. CMP 2596 Stop Below 2440 Target 2700 / 2800 / 3000
• Channel since May 2020. • Stock at Big time support. • Has the support of 200-day Exponential Moving Average. * Educational Purpose Only * NSE:EICHERMOT
Trade according to your risk appetite! Happy trading :) Do drop a like and support for more ideas!
NSE:EICHERMOT
Note: This is for educational purpose only. There is a channel bearish breakout with high volume. Moreover, RSI below 50 indicates loss of momentum.
Looks like Eicher motors has broken TWO YEARS trend line drawn from April'18. Can go LONG in it, if it crosses 20310.
Though this seems to be perfect head and shoulder pattern, However this will be marked as invalid because target would come as zero. And there are no issues with company financials, What we can do is just avoid investments in this counter until it closes above 17000. Not recommending to short