Entry 20100
Target 21500
SL 17690
Eicher Motors is currently trading at 20130. the cmp has support from 19800 to 20100 for daily DZ and 19800 to 19975 for 1 Hr DZ which makes it an strong DZ.
Enter in trade at 20100 and hold for 10-12 trading days.
BSE:EICHERMOT
Follow Chart Pattern.
Educational Purpose.
EicherMotors Showing Head & Shoulder Pattern which Shows Possible Fall in the Script.
Hence It should be Exited/Removed from Portfolio.
Stock has corrected from its highs. Resting at the support level. Has been picked up thrice from here. RSI already oversold and in the past eichermot has not maintained the oversold zone for long time. Todays candle has formed a doji and looks like a possible pullback on cards.
Buy at 26500 for a positional target of 28200 Stoploss shall be maintained at 25500 on...
Looks like a triangle is formed which should result in continuation of the uptrend upon its completion. A decisive close above the triangle (near the apex) should confirm the continuation in uptrend. Should wait till that happens.
There were two possible trades, Daily chart and hourly chart are showing two different game plans, yes Daily close is above the trendline but hourly close is below the trend line with a possible divergence.
Eicher motor have taken support on trendline (on daily chart) and also Recent Low will act as support. If the previous low of 27021 taken down then can have a...
Eicher Motors Ltd. engages in the development, design, manufacture, assembly and sale of two-wheelers, as well as related parts and accessories. It operates through Domestic and Overseas geographical segments. The Domestic segment includes sales and services to customers located in India. The Overseas segment includes sales and services rendered to customers located outside India. The company was founded on March 14, 1982 and is headquartered in Gurugram, India.
BSE
