19/4 educational purpose only
Eicher Motors
cmp 2483.95
can sell at cmp or on rise at around 2525/2530 (20ma/hourly is at 2534.35)
sl above 2550 (50ma/hourly is at 2550)
targets around 2400 & 2250 (200ma/hourly is at 2416.05)
(the charts look weak but the support zone between 2401.60 & 2407.85 looks strong. We may see 2250 levels once the support zone is breached)
*pattern on the hourly chart looks like a symmetrical triangle which is neutral but the candles have broken the lower supporting trendline
Eicher Motors
cmp 2483.95
can sell at cmp or on rise at around 2525/2530 (20ma/hourly is at 2534.35)
sl above 2550 (50ma/hourly is at 2550)
targets around 2400 & 2250 (200ma/hourly is at 2416.05)
(the charts look weak but the support zone between 2401.60 & 2407.85 looks strong. We may see 2250 levels once the support zone is breached)
*pattern on the hourly chart looks like a symmetrical triangle which is neutral but the candles have broken the lower supporting trendline