Eicher Motors Ltd
This chart depicts a recent setup for Eicher Motors Ltd. on an hourly time frame. The setup shows a potential long position with the following parameters:
Entry: Around 4,862.40 INR
Target: 5,090.25 INR (4.74% potential upside)
Stop Loss: 4,783.20 INR (1.58% downside risk)
Risk/Reward Ratio: 3:1
The price appears to be forming a potential reversal after a pullback, and the trade aims to capitalize on a possible upward movement towards the recent resistance level. Volume indicators and previous price action suggest this could be a favorable risk-reward setup for traders looking to go long in the short term.
Entry: Around 4,862.40 INR
Target: 5,090.25 INR (4.74% potential upside)
Stop Loss: 4,783.20 INR (1.58% downside risk)
Risk/Reward Ratio: 3:1
The price appears to be forming a potential reversal after a pullback, and the trade aims to capitalize on a possible upward movement towards the recent resistance level. Volume indicators and previous price action suggest this could be a favorable risk-reward setup for traders looking to go long in the short term.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.