Eicher Motors looking bullishEicher Motors has recently completed Cup & Handle pattern and is all set to reach all the way to INR 4500 in a 9-12 months time horizon from current levels.
Eichermotor
EICHERMOT Analysis----->>this stock is continuously moving upwards...
---->>now this stock is facing the resistance from 4200 level, a fall back is noticed.
on bottom side we find a support zone identified at 3700 and also the trendline is pushing the price upside.
------->>keep in long side as long as price is above the trendline and support zone.
If price breaks the trendline then look for short side below the support levels, after a rejection from support level at 3700.
Eicher motor share monthly chart Eicher motor monthly chart bullish this time eicher wave 5 move upside . wave 5th characters price move side slow compare 3rd wave
EICHER MOTORS--Near its Resistance??observations:
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A strong gap up is observed, and continue to moving towards resistance.
It is near to resistance, where previously strong fall happens. now look at the reaction at these levels to go further upside or downside momentum.
careful before going long, above this levels. (3750 level )
EICHERMOT : Near major zoneEICHERMOT is trading near Major zone as of now. 4 times it reversed from this level and it is acting as a Major supply zone.
So what can be strategy for me... I will see 1 hours & 15 chart and if its creating HH< HL then i will go with positive.....if it break level then it will be massing selling here and can good to with trend.
Follow prices action in 1 hour chart before entering in trade.
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
I may be 100% wrong as its my personal trade.
First Learn and then remove "L"
EICHERMOT Low Risk High Reward IdeaAs per analysis, best level to take entry on NSE:EICHERMOT is 3340 with stop loss of 3275. My expected up side targets will be 3410 & 3495.
This could be low risk and high reward idea.
Note: This is my personal analysis, only for learning. Thanks.
