Niftyauto
🏍🚚 Eicher Motors Heading Towards Support NSE:EICHERMOT
As one can see on chart, Eicher motors share heading towards harmonic support ones it enters in harmonic PRZ then wait for perfect reversal then only go for swing long as per your trade setup.
******whatever charts or levels sharing here are just for educational purpose only, not a recommendation. Please do your own analysis before taking any trade on them. We are not SEBI registered.
MARUTI SUZUKI PRICE ACTION ANALYSIS. LONG IDEAMaruti's price has fallen significantly recently. This pattern is perfect to be called a Shark pattern. After a second impulse, the correction went too deep and is expected to be reversed from the PRZ.
This is XABCD bullish shark pattern has extensions 0.886-1.13 which form the potential reversal zone (PRZ).
We can also a downtrend line is broken, but for confirmation wait until the price breaks the supply zone. Any rejection from the supply zone might throw the price near the demand zone.
Buying from a PRZ gives us a high risk-reward ratio. The stop loss and target levels are mentioned on the chart.
Happy trading :)
This is just for educational purposes.
NIFTY AUTO ON FIRE! NEAR THE SUPPLY ZONE THOUGH.Nifty Auto showed immense strength bouncing off 200 EMA line and now opening with a gap up and holding above the B level of XABCD bearish butterfly pattern drawn on the chart.
The price is near the supply zone but after taking so much beating, it may not reverse again but takes a pullback and continues the rally in my opinion. Or might even fail from the supply zone, so keep a watch.
NIFTY AUTO on Bigger TimeframeNifty Auto is at resistance levels of a trendline on monthly timeframe chart.
After 2020 fall it had broke the major resistance and took support on it.
Now from support zone it had made higher lows, but not the higher highs.
Index had contracted for last few months so now there is high possibility it may show big move one side.
This month we may witness a major breakout or it will retrace and and take support.
If it comes back and take support then it will generate a strong momentum for breakout or breakdown.
The current support zone had many times acted as a resistance.
If this support is broke then we may see a fall.
This post is for information purpose only.
It is my own analysis, I'm not a professional trader or analyst.
M_M ready to bounce back from its demand zone currently M_M is consolidating at important zone which you can see also act as a good support in 2015-16 time( you can zoom out the chart ) and it has bounced of many times from the same area in last year . stock is also nearby 200 Ema , A good closing above this will also lead the stock to new highs .
and it has also broken that trendline and retested two times so you can expect a good upside move .
enter the rally before before it starts going up .
A good risk reward trade can be initiated here with just a 4% risk and a good 12% & 26% reward as target 1 and target 2 .
risk taker can intiate the trade here and those who are safe trader can wait for break for this consolidation with a good green candle with volume but that will affect your risk reward ratio .
SL to be maintained as a day closing basis . if we closes below this zone on daily timeframe you can close you long trade .
Hope you find this analysis helpful .
Happy Trading .
Maruti Monthly Inverted Head & ShoulderMaruti monthly chart clearly shows the formation of an Inverted H&S pattern.
Breakout awaited.
The tgt of a valid brkout, should ideally lead to the stock getting into its All Time High Prices.
But still the previous top will act as a major resistance.
One should take caution at that price levels.
Amar Raja Battery Inverse H&S patternAmar Raja Battery forms Inverse H&S pattern and also has trendline BO. There is major resistance at 769 (200 EMA) Now today it was reverted from this levels so It confirm the Inverse H&S pattern with return move.
It can long near 740 add more if come 724 for target 800-820 soon
Auto giant on a cup and handle formationNSE:M_M
Mahindra and Mahindra is bouncing from it's long-term support zone of 730-755 and has beautifully formed cup and handle pattern in weekly charts. Buying volume is also increasing week on week close to it's volume moving average. Go long on breakout above the handle trendline with the target of 820 in the short-term and 900+ for long-term.
NIFTY TRADEING SETUP VIEW|08-09-2021As Describe In Chart
Trade Accordingly.
Support And Resistance
Lines Plot On Chart.
Once You Buy or Sell
Then Always Book Partial Profit.
Do Not Wait For Final Target.
Note: As We Seen Today After Opening Market Continue Sell Off In That Case Wait For Sometime To Take Entry In Either BUY Or SELL Side.
Thanx.