EICHERMOT trade ideas
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 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
EICHER MOTORS - Accumulation ZoneEicher Motors had huge price expansion run from 4k to 33.5k
current fall is too hard for investors and at 12k it still doesnt makes a stop
fibonnaci levels suggest a possible stop at 10500-10600 levels completing 78% retracement
and to add some cushion one can considers price correction till 9700 levels
NOTE: One should consult their financial advisor before making any decision to buy or sell equities
EICHERMOT, Idea for Profit 02-Apr 2020Price Action Pattern : Head & Shoulder
Daily view : Retraced neck line and continuing down movement
Always follow risk management while trading. Saving capital is more important than profits.
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Regards
Piyush Gupta