📊 Eicher Motors Ltd (NSE) – Technical Analysis (Daily Chart)
Eicher Motors is trading at ₹5,764, forming a triangle consolidation pattern inside a larger ascending channel. The price is now testing the upper boundary of this triangle, signaling a possible breakout.
🔑 Key Insights
🔺 Triangle Pattern: Price is squeezing within a contracting triangle. A breakout above resistance could trigger a strong move.
✅ Support Zone: ₹5,565 remains the critical support inside the pattern.
✅ Resistance Zone: ₹5,789 is the breakout level to watch.
✅ Upside Targets (on breakout):
🎯 First Target: ₹6,251
🎯 Second Target: ₹6,806
⚠️ Downside Risk: If the price fails to break out and slips below ₹5,565, it may retest ₹5,400 – ₹5,200 levels.
📌 Conclusion
Bullish Case: A confirmed breakout above the triangle resistance at ₹5,789 could extend the rally toward ₹6,251 and ₹6,806.
Bearish Case: A breakdown below ₹5,565 would invalidate the bullish setup and invite further downside.
#EicherMotors #Breakout #TechnicalAnalysis #StockMarketIndia #PriceAction #NSE
Eicher Motors is trading at ₹5,764, forming a triangle consolidation pattern inside a larger ascending channel. The price is now testing the upper boundary of this triangle, signaling a possible breakout.
🔑 Key Insights
🔺 Triangle Pattern: Price is squeezing within a contracting triangle. A breakout above resistance could trigger a strong move.
✅ Support Zone: ₹5,565 remains the critical support inside the pattern.
✅ Resistance Zone: ₹5,789 is the breakout level to watch.
✅ Upside Targets (on breakout):
🎯 First Target: ₹6,251
🎯 Second Target: ₹6,806
⚠️ Downside Risk: If the price fails to break out and slips below ₹5,565, it may retest ₹5,400 – ₹5,200 levels.
📌 Conclusion
Bullish Case: A confirmed breakout above the triangle resistance at ₹5,789 could extend the rally toward ₹6,251 and ₹6,806.
Bearish Case: A breakdown below ₹5,565 would invalidate the bullish setup and invite further downside.
#EicherMotors #Breakout #TechnicalAnalysis #StockMarketIndia #PriceAction #NSE
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.