Eicher Motors_27.05.2023Make or Break Levels for Eicher Motors. Do comment your view.For Educational Purpose only.
EICHERMOT trade ideas
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 )
EICHER MOTORS : V Shape Recovery..!5 Steps Analysis of EICHER MOTORS
1. Auto Sector showing strength on last week and majority of stocks has given strong upside closing.
2.On daily time frame we can see the stock has followed the trend line and traded below trendline from Dec. 2022.
3. On Thursday stock has given closing above trendline with high volume and from last 3 days stock has showing strength which indicate trend going upside move in coming days.
4. Stock showing strong Mometum on daily, weekly, & monthly basis with high volume and volatility.
5. If the stock has sustain current level and give clo sing above 3220 level on Monday then next upside move we can see at 3250 to 3300 levels.
EICHER MOTOR 1DEicher motor reversing from a good support zone. Good to go long in this stock from this point.
Keeping the SL just before today's low.
Trade safe. Manage risk. Be profitable.
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Disclaimer:- This is my view. Please analyze the charts yourself and then decide to take any trades.
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"
eicher all time higheicher has been at all-time high
it has given a weekly breakout and if it closes above 3348 this month then a monthly breakout
we fear that all-time high stock can turn down first. but mostly this is a wrong assumption
all-time high stocks are momentum and the strong break-out stock we should be in these stocks
if fear is there of losing then betting a small amount on how these stocks react can give good practical learning.
now important
eicher has given flag monthly break out and box break out at 3018
box breakout minimum target of 3769 but usually its gets doubled in bull run so target is 4504
flag breakout target 4839
