EICHERMOT trade ideas
EICHERMOTORS_REVERSALEICHERMOTORS can show reversal as it has given a breakout of the trendline.
This can go bullish from here.
(for educational purpose only)
EICHERMOT--WATCH FOR BREAK OUT OR BREAK DOWNAfter the Head and Shoulder breakdown the price is now at a crucial support level. We may see a reversal from the current support to the trend line.
Be prepared for an outcome on either sides. Can be a good trade on either sides if volumes are good. Wait for price action.
EICHERMOT - Head and Shoulder pattern breakdown Keep an eye
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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.
Elliot wave Analysis # Bullish ViewEicher Motors
Bullish Sequence above 2404 level
240 Mins Chart (log scale)
BEARS rides EICHERNSE:EICHERMOT
All levels are mentioned in the chart. RSI also shows negative divergence in Day TF which means it may go down.
Note: This is for educational purpose only.
Eichermotors Short (only when it breaks)Short if the price go below 2475
Stop Loss 2555
Target 2315
Reason for short: Head and Shoulder Pattern
Disclaimer: Please do your own analysis and don't follow me blindly
Eicher Motor - Tri Sangam Chart PatternTri Sangam chart pattern is found in Eicher Motor.
1. Rounding Top
2. Head & Shoulder and
3. Inverted Cup with Handle
Multiple confluence hints that if price fall below 2400 all of the above mentioned chart patterns will active and the best part is that targets 1850 are same for all patterns. As per H&S or Inverted cup with handle pattern, SL would be around 2700 but the overall structure is week, so we make our Stop Loss little tighter Rs 2600 (high of Shooting Star).
Please note that there is an important hurdle near 2335, once it break the path of target is clear.
Sell Below 2400
Stop Loss 2600
Target 1 2000 (Important Support and Round Number)
Target 2 1850 (High probability of achieving this target)
Once Price break below 2335 trail your SL 2520
Eicher motors @Buy ZoneAs shown there in d chart,Eicher motor is at support level and ready to give inverted head and shoulder breakout
EICHER MOTORS IN 15 MINS CHART1) FALLING WEDGE PATTERN ( Reversal pattern )
2)MACD DIVERGENCE
3) INCREASE IN VOLUME
Eicher motor broke falling wedge pattern and we can expect upside move. Fibonacci 50,61.8 should be our two targets on upside. Trade at your own risk. Trade safe.
