Eicher 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.
Eicher motor elliot wave analysis daily time frame 1,2,3,4or wave complete price down side come wave a,b,c and retracment wave 1 62%
observations: ---->> 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 )
As 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.
There's a formation of Bullish Bat Pattern on the hourly chart of the Eicher Motors, Bat pattern is a five-legged harmonic pattern that provides us with potential reversal zones, from where stock usually witnesses sharp recovery or fall as the case may be. Here 3407-3434 is the PRZ that the pattern provided as we did see the sharp recovery back from there. The...
Leading automotive company ROYAL ENFIELD motorcycles in 2 wheelers Commercial Vehicles in JV with Volvo- Trucks and carriers Company data- www.eicher.in Good market share, nice products, low debt and a forward looking management.