EICHERMOT trade ideas
In major support may bounce from here to 25k in 3 waves or bull.Market Commentary:
READ THE MARKET COMMENTARY IN THE CHART CAREFULLY...AND TRY TO LEARN THE ELLIOT WAVES...OTHERWISE ITS TOUGH TO UNDERSTAND MY ANALYSIS
YOU CAN COMMENT ONLY FOR DOUBTS IN LEARNING EW AND NOT FOR ENTER OR EXIT IN THE TRADE OR ASKING ME OR SUGGESTING ON WHAT U TAKEN, ACCORDING TO YOUR ANALYSIS.
All information given inside the chart and i shared this for educational purpose only. Maximum i wont give the followup or update in the old chart posted as educational trade idea, sometimes i will...so please make sure if i posted the new chart for the same pair, it could be a possible wave count or update. Make sure that old one was invalid or possible or alternate wave and the new one is valid. Good luck and cheers.
This is a educational post only...my ambition is to create a awareness to the traders who lose the money and treating like a gambling...this is a pure business and not only buy and sell apart from that we have to fine tune ourselves in various part of trading...cheers once again.
Possible downside and a buying levels of Eicher MotorsWhat I can see from the chart is a downward movement to 17050 - 14061 area. Those who wants to buy this stock can wait for some time and see how the price movement at this area as these are the intersection of many Support and Resistance hence very important levels. And once you get a clear buy signal/candle at these areas then you can go long. I see these level are best buy opportunities
Levels for possible buy are: 17050, 15128 & 14061
Notes: Comments are always welcome :)
EICHER MOTOR IN BEAR PHASEEicher motor which was in very strong uptrend till few months ago has become very weak on monthly chart and is in total bear grip. It has full potential to touch 17800 and then 14500 levels in coming weeks. Its trading strategy should be to sell on very rise till it show some trend reversal.
Disclaimer: Views are only for educational purpose to study the market/stock behaviour. It is no recommendation to Buy, Sell or Hold any stock/index