EICHER MOTORS - at short term supportThere'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 pattern PRZ is also coinciding with the daily chart support levels around 3400.
Now sustaining prz , we may see stock testing 3500- 3570 in the coming trading sessions.
Trade type: Reversal Long Trade
Pattern: Bullish Bat Pattern
Support: 3400-3434
Target: 3500-3570
CMP: 3464
How to Buy: Time your trade from lower timeframes, to manage your risk better.
