EICHER MOTORSH&S pattern on Monthly scale with heavy downward momentum, looks like there is still more pain left for Eicher.
EICHERMOT trade ideas
The last 3 candles are formed with good volumes and today’s Eicher Motors has been into a consolidation zone forming a triangle. The last 3 candles are formed with good volumes and today’s session managed a close above the MA. RSI is sloping up after bouncing from 40 levels. A strong breakout from the horizontal level will be positive confirming accumulation.
eicher motors head and shoulder patternlooking like a head and shoulder pattern in eicher motors on weekly chart. please comment your views on this.
EICHERMOT is consolidating for a Month !This stock has been consolidating between 12600 and 15000. now it is approaching 12600 levels. if it revers from here it can give return upto 20%. otherwise it may create fresh lows.
Watch it for breakdown or Bullish reversal patterns !
Eicher Motors Long, Weekly AnalysisNSE:EICHERMOT
EICHER MOTORS Weekly Elliot Wave Analysis
Sometimes a fifth wave could be weak and end without reaching the end of the third wave. A situation like this calls a 'truncation', which we could face at the fifth wave of an impulse or ending diagonal. It's pretty rare if even possible to have a truncation in a position of the fifth wave of a leading diagonal. Usually, a truncation happens after a really strong third wave.
Most often in Stocks we can see a Truncation in the 5th wave.
What a Magnificent Rally it was from 124.90 to 33480 odd levels.
eicher motor on support Eicher motors looks good on support. We can see it going upside if it makes reversal apttern on support
Tvs Motors#Fresh View>>>
#TVSMOTORS trading above the resistance level and now stock can move towards 340/360/370 levels with support at 325.00 level.
#TA
Eicher Motors - Head and Shoulder PatternThough this seems to be perfect head and shoulder pattern, However this will be marked as invalid because target would come as zero.
And there are no issues with company financials, What we can do is just avoid investments in this counter until it closes above 17000.
Not recommending to short
what are indicators and how they will help you I have made small efforts in explaining about function of price and function of time
where you can get the help of indicators , how the basic wave principle works , why you need proper education on all the technical aspects
What are the actions you can to improve your trading knowledge
Good luck
Next move One can look for trading in the Zone , if you want to know how to trade in the Zone then you can look to down load mark Douglas book trading in the zone and you will understand how to trade this kind of set up
The bear trend is not over yet for this scrip , any rally and pause is a opportunity for sell set up trades
Good luck
EICHERIt has activated an Ichimoku C Clamp in higher time frame and hourly is indicating a possibility of a fresh breakout. It could retrace till 15500 provided it does not go below 13250
EicherMot Cup & Handle PatternEichermot NSE:EICHERMOT trading above cup and handle pattern and now stock can move towards 14,400-14,700 with the help of 13,700 support level.
