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Eicher motors: Good stock for buying but needs confirmationsEicher motors has come up a long way from recent bottoms. It is still a strong candidate but needs confirmations. Scenario 1: 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:- Entry: 2050-2100 Target: 2400 - 2900- 3168 SL: 1990 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Scenario 2: If it breaches its current monthly resistance placed at 2201 strongly with larger candles going beyond 2250, then the trades should be placed as follows:- Entry: 2273 Target: 2400 (we need to again check for further target confirmation going towards 2900- 3168) SL: 2200 Keep following for the confirmations
NSE:EICHERMOT
by shikhagupta2589
6