Swing Trading opportunity ! Weekly Chart Alert !
Fundamental is good because company is planning to launch their new models
harley Davidson already announced that they are closing all ther stores and factories from INDIA
i.e no Competition
Target = 2933
Stop-loss = 2160 or below
Lot Size = 350
1) EICHER MOTORS just break the down trendline and...
Script @ high resistance level of the year
Stochastic Shows Oversold
Above 200 ma says it’s been bullish trend
IS IT THEN NOW ON VERGE OF BREAKING RESISTANCE AND GO FOR NEW HIGH
I would enter @ 2350 with 50-60 pts stop to enjoy new high if comes
And reverse the trade if opposite happens for 2200 as target.
disclaimer do your own study before entering.
EICHERMOT is in a bullish mood but there will be a gestation period for sometimes ... Please wait and follow the setup...
Script Action Entry SL Tgt 1 Tgt 2
EICHERMOT Buy 2,270.68 2,217.78 2,323.58 2,376.48
Eicher motors has come up a long way from recent bottoms. It is still a strong candidate but needs confirmations.
It can retest its support bed (although week) range 2012-2065. If we see strong rejections from bulls then we can enter the positional trade.
In this case the trade should be placed as follows:-
Target: 2400 - 2900-...
Eicher Motor has formed Flag and Pole pattern. Stock is trading today with higher volume. Stock giving close above 2220 on 1 HR candle willl confirm Breakout and will try to move to 2400.
stock has support around 2175 levels.
PS: Chart and view is only for purpose of learning, Please consult financial advisor before any investment
Eicher Motors can touch 2600 in coming weeks. Closing above 2200 will take it towards 2600++.
Refer chart for further details.
Please do not invest blindly. This is my personal view. I may be wrong. Before investing, please take advise from your advisor.