EICHER MOTORS - at short term supportThe structure of the chart becomes weak after a massive fall in today's session.
Though currently, it is trading at short-term support, if held we may see a temporary bounce back in the stock.
Immediate Resistance at 2800
Type of Trade: contra - risky.
Freefall may be seen in the stock below 2700 levels, hence be careful.
Disclaimer: Not a recommendation to trade
Eichermotors
EICHER motors entering UPTREND.Eicher motors downtrend is almost over as shown by the RSI comming to a suppot level, MACD recovering and eicher motors is at support itself which was a previous resistances.
I believe this will be an upside trending move after crossing 2505 levels .
Buy above 2505 for the targets mentioned in the chart above. NSE:EICHERMOT
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Eicher Motors Short Term Reversal The stock has reached lower trend line and looks to take support and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby & 200 EMA .
Risk Reward Ratio - 2:1
SL is placed below multiple major support zones & 200 EMA and target is place near swing, channel and all time high.
Eichher Motors Looking Bullish
All the key levels are mentioned in chart with Stop-loss and Targets
Findings Mr. ATUL
BBC
Wave Counts
Key Levels
Volume above Average
Macd in Weekly Uptick
Macd in daily positive and Uptick and also above zero line
RSI IN DAILY ABOVE 60
DMI & ADX POSITIVE UNGALI
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
Eicher Motors Shorting Scenario
Rising wedge on shorter time frame and
Reverse flag and pole in longer time frame provide good Risk Reward scenario in Eicher motors for shorting.
Considering the fact the Pre open market shows huge gap down, it confirms the move even more.
Positional as well as intraday.