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Eichermotorsshort

Eicher motors around the resistance zone (26/02/24) The stock has taken a nice support from the weekly 20 EMA and has closed around the previous candle close. There is a resistance zone around 3950-3985. If this resistance is clear and price sustain above the level. There will be chance of stock touch its recent high around 4160 level. In case there is a pullback and price action near the support zone (3765-3800) shows some positivity, a nice R:R ratio trade can be captured. Possibility of stock dropping below the support zone is quite less and if it occures, short opportunity will be there upto the next support level. Major support zone :- 3765-3800, 3600-3625 Positional trades in the stock can be created in this week as per the trend. On the daily charts market is consolidating and there are chance of a break out. Next thursday being the monthly expiry march expiry options can be trades. Both side momentum is possible in the stock. Nifty Auto is trading around the ATH. Wait for the price action on the daily charts and enter accordingly.
NSE:EICHERMOT
by Mambotrade
Eicher giving a break down.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 daily time frame. 3. High volume break down . Markets are in a bull run and before another up move can retest the lower levels. Targets :- 3240, 3166 Stop loss:- 3355 Wait for the stock to start trading below the previous day low i.e. 3325 after a retest. The stock can even touch the daily 200 moving average. Intraday and swing trades can be initiated in the stock. Wait for the price action near the levels before entering the trade.
NSE:EICHERMOTShort
by Mambotrade
Eicher consolidating in a range.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 ema. 2. Box consolidation on daily time frame. 3. Hammer candle on daily and weekly time frame. The markets are in bullish move and the stock can give a good up move. Let the stock cross and sustain above 3415 levels. A swing and intraday trades can be initiated once the levels are sustained. Target :- 3500, 3555 Stop loss :- 3356, 200 ema(4-hour time frame). Wait for a price action near the price levels before entering the trade.
NSE:EICHERMOT
by Mambotrade
Eicher is trading in a range.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 of resistance and moving average at the same time, the trade will be double confirmed. Wait for the price action near the levels for confirmation.
NSE:EICHERMOT
by Mambotrade
EICHERMOT SHORTI hope you can now see how EICHERMOT represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor. Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these charts are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
NSE:EICHERMOTShort
by EntryandExit
EICHER MOTOR HEAD AND SHOULDER BREAKDOWNEicher 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 continues Rs. 3000 can be our 2nd target. If the price goes below the supply and demand zone then it can come back to retest this level and then continue a bearish move for the target price of around Rs. 2015.
NSE:EICHERMOT
by Aditya_Pal_Singh