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Levels mentioned in the chart
Eicher Motors have seen strong fall in last 1 month where it fell from 29500 to sub 23000 levels and now down around 30% from its all time high,
On daily charts Eicher Motors looks deeply oversold, RSI is below 30 and Money Flow Index which is another very strong indicator is now at sub 11 which is indicating that a strong reversal is very much likely.
All in the chart
EICHER Motors Weekly TF
Auto index on a whole is in good pullback trend after a long down move.
Eicher motors Pullback move shown in chart.
Can be used for this month expiry.
RSI and MFI showing positive divergence.
Retracement and Reversal decoding the price movement.
Watch out for 2G(with Red Dot)* and you might be the lucky one to find the Top.
Watch out for 2R(with Green Dot)* and you might be the lucky one to find the Bottom.
For more details check out ...
Go Long at PDH break
Short on PDL break
Currently, in the correction phase. Wave C is in progress may be end near 15500.
Then Uptrend will start.
Just for educational purpose.
... Levels mentioned in chart
Needs some good news quick else below marked price could easily do 24,000 -> 23,000.
SL - 2315
TGT - 18,000
Very Strong in week market keep eye
levels mentioned in chart
Breakout done. Daily MACD cut and weekly MACD Crossover may help to reach the targets. Refer chart for other details
Levels explained on chart..
Eicher motors is forming Inv Head and shoulder Pattern one Can buy once it comfortably breaking 29450