📊 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
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.