EICHERMOT trade ideas
As Predicted, EICHERMOT bounced from the support Area.The price went down to important support area and couldn't break it. Bounced immediately.
It will go high for another 1500 points .
Broadening Wedge in Classical patterns is an Impulse in EWStill unfolding here. We'll see where the dips become a Buy and Accumulate.
strong strategy eicher motors ma 9,14, cpr dwm, price actionstrong strategy eicher motors ma 9,14, cpr dwm price action, pivot points
execute after three candle 10-15 minutes daily
Today’s volume was peak with a small body candleThe stock has been falling since last few months after creating a top in November. During the last 5/6 sessions we notice a surge in volumes as well. Today’s volume was peak with a small body candle (now this create a anomaly between price and volume) we should expect large candles with large volumes but that has not been in this case, especially the last candle! Well these are signs of exhaustion of a trend. The stock fell only 2.64% in during today’s sell off! The RSI is into extremes OS region, these levels were noticed in July last year following to which the stock rallied hard! From an investing point of view positions can be created in the stock. From a trading point of view a move above 16700 may push the stock to 17300, 17600 & 18000 levels. Any failure to save the days low may push the stock down to 15000 zones.
EICHER LONG VISIBLE BUY WHEN IN RANGE 16500
KEEPING 15650 SL
TARGETS 18000
19500
20000
20750+++++
NOW TRADING AT SUPPORT 17350 ( CAN EXPECT A ITERIM BOUNCE )
Long Bias for Eicher MotorsEicher can be a good long at this probable area. A good risk to reward at current levels. It could be held for short and medium-term swing. Watch out for Simple Price Action for confirmation of the trade.
Short Eicher Below 18000 on closing basisDetails are given on chart. One should think of shorting below 18000 SL 19000 Target 15000
sell EICHERMOTIF break line then sell and target another line stop loss 19500 little higher but profit also higher
Long( Counter trend move ) One can take small risk on Futures contract for this counter trend move , this one will be moving for one sharp move ,
Look to enter and book near the target
EICHER MOTORSThe eicher motors now forming wolfe wave but the nifty auto there is not supporting to pullback so take a trade carefully..
support levels 18355 to 17817..
EICHER MOTORS EW VIEWEICHER MOTORS will fall more with SELL CMP 18,703 SL 20,000 for TGT 17,000
for long term TGT 12600/9600
as per my view...........Lets see
Effective buying @ current price in Eichermotor - priceaction Effective buying @ current price in Eichermotor - priceaction
Long This scrip is highly volatile , due to which i had to switch to Ranko Bar , Box size of 225 Points
the scrip has corrected and moved out form Ending diagonal , One can visually identify that the down move pattern is zig zag and usually
ZigZag are reflective in nature
What i mean is if down move is in ZigZag the up side move is very high likely Zigzag move with 100 % movement in the price
on daily its still bearish sign but i do look the noiseless chart its clearly showing its about to make turn around
One can position Long in future contract ( Preferably March ) for next up side move
Book using trailing stop on daily low basis
Good luck
BUY Eicher MotorsThe descending Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias.
