BEARS RIDING DOWN EICHER MOTORS ???!!!
Chart patterns does insist me to go with opinion stated above.
Reasons:
1. Eicher motors is travelling (and respecting) in different patterns .
2. June 2022 , Eicher motors broke out of major triangular pattern and rose to about 35% .
3. Monthly(November 22) candle - Bearish engulfing candle , Oct 2022- Hanging man candle confirming the Bearishness.
4. It is also travelling in a ascending channel pattern (as you can see it is currently in the down move inside the pattern).
5. Stock has given Breakdown(11 nov candle) with superb volume out of a trendline.
6. Head & Shoulders pattern in Daily time frame and given breakdown on 2 Dec with good volumes.
7. Target & SL levels mentioned in the chart...
I can show things separately and clearly in weekly daily monthly charts...but trading view allows only members who have reputation of 10 (or paid ones) to use that feature while publishing ideas.
Soon I will earn that 10 points.
Sorry if chart looks so congested....Feel free to ask if there is any confusion.
Let's wait and watch how it moves!!!!
Note - Just Sharing my view...not a tip nor advice...
Reasons:
1. Eicher motors is travelling (and respecting) in different patterns .
2. June 2022 , Eicher motors broke out of major triangular pattern and rose to about 35% .
3. Monthly(November 22) candle - Bearish engulfing candle , Oct 2022- Hanging man candle confirming the Bearishness.
4. It is also travelling in a ascending channel pattern (as you can see it is currently in the down move inside the pattern).
5. Stock has given Breakdown(11 nov candle) with superb volume out of a trendline.
6. Head & Shoulders pattern in Daily time frame and given breakdown on 2 Dec with good volumes.
7. Target & SL levels mentioned in the chart...
I can show things separately and clearly in weekly daily monthly charts...but trading view allows only members who have reputation of 10 (or paid ones) to use that feature while publishing ideas.
Soon I will earn that 10 points.
Sorry if chart looks so congested....Feel free to ask if there is any confusion.
Let's wait and watch how it moves!!!!
Note - Just Sharing my view...not a tip nor advice...
Giao dịch đang hoạt động
Ghi chú
Bears looking strong.Ghi chú
11th nov candle- channel breakdown candle ....misplaced in chart...Ghi chú
Now..Bearish flag breakdown....volatile down move can be expected till 3150 level and further.Giao dịch đang hoạt động
Ghi chú
Going as per patternGhi chú
may see a bullish move to 3340 level and then continue its down move!!Ghi chú
3035 ---0.5 fib support!!!Ghi chú
volatile move may occur in a week or 2double top formation (need lower low to confirm)
Giao dịch đang hoạt động
Good breakdown of the double top pattern!!!Đóng lệnh: đạt mục tiêu
Target done!!!!Ghi chú
Completing the down swing??? 2800 major support,0.618 fib.....keep an eye on it!!!
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Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.