>> Positional Call (1-3 months)
>> Three White Soldiers pattern highlighted indicates big player has already entered the stock
>> Good strength & Volume Buildup in Stock
>> Swing traders can book profits at 5-10% fully or partially & keep trailling
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EICHERMOT is currently trading on the daily and weekly demand zones.
On its weekly chart, EICHERMOT is getting support from the EMA 50, and on its daily chart, it is getting support from the 200 DMA.
On the daily chart, we can see the formation of a double bottom and RSI Bullish Divergence.
On the weekly chart, the "wave volume divergence indicator" shows that...
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 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...
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...
Intraday traders and short-term investors can buy nearby sub-wave 4 of wave (3). NSE Eicher motors are making waves ((5)). We may see the following targets soon: 3005 - 3146 - 3223 - 3292
Invalidation: Wave 4 can never Exceed the starting point of wave 1.
Sub-wave 4 can't touch sub-wave 1 of wave (3).
If you have any queries or concerns, don't hesitate to ask...
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.
As they say history repeats itself in the markets too, earlier EICHERMOTORS has broke out forming ascending chart pattern with support zone being the long time demand zone, looks like it is forming a similar ascending triangle pattern again, Look for buy opportunities in case of breakout