EICHERMOT trade ideas
EICHER - WHICH DIRECTION??DOJI FORMED ON 26TH APRIL. OTHER FACTORS OBSERVED FROM THE CHART -
PENANT FORMED.
GETTING SUPPORT AT THE INCLINED TREND LINE.
WEEKLY CHART SHOWS WHENEVER THE PRICE TOUCHED THE TREND LINE BASE, MONEY HAD COME INTO THE SYSTEM.
GO LONG, IF THE PRICE CROSSES 20480 FOR TARGET OF 20,890. (STOP LOSS 20175).
GO SHORT, IF THE PRICE GOES BELOW 20175 FOR TARGET OF 19000. (STOP LOSS 20480).
EicherMotor- Find your tradeSell only below the red line,otherwise go long..its on strong support line
EICHERMOT Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
Eicher motor on log scale - log channel case study.Boys, Sometime switch chart to log scale.
Not going to type whole story here. Ask me questions or give your feedback.
NSE : Eicher motors heading for 16KNSE : Eicher motors heading for 16K
Short Eicher motors below 22000, for a target of 18806 and 16364 or below.
Stop loss level 23767
Use stop loss
Long on strong MoveNow this one is making an consolidation , now i am looking to go Long only if daily close is strong and brakes the 20900 , i am not sure weather this is the low from where it will turn and move up , or it will keep moving down ward side for another small drops and then turn , either way i am looking to go long only on strong close on daily
there is divergence visible in the chart and its been ranging form week in the same zone
One can look for buying only strong close and look to enter on brake of daily high for next forecast target
Short EicherMot Feb Fut at 18950 with Sl-19300 Target - 18250Reasons for Sell
1. Eicher formed Bearish Marubozu today on daily charts
2. Next Support is seen around 18200 Levels.
3. Resistance between 19250-19500
4. RRR is around 2 which is good
5. Selling with strong volumes.
6.
Risks:
1. Stock is already in down trend
2. RSI at 26 indicating oversold thus chances of reversal.
Trade is at Confidence level of 80%
Hedge the position by buying 19500 CE. The hedge will be used to cover gap up openings due to overnight news if any. The Hedge will be closed/carried based on market opening.
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