EICHERMOT trade ideas
EICHER MOTOR SELL SETUPAs per my analysis, I am expecting more down side on $NSE:EICHERMOT. Best level to take sell entry will be 3208 with stop loss of 3270 (+62 points risk). My expected downside would be 3096 which is strong support and buying area.
Note: This is my personal analysis, only to learn stock market behavior. Thanks.
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.