Eicher Motor Broken Two Years Trend line !!! Long

NSE:EICHERMOT1D

EICHER MOTORSNSE

Description

⋅ Jul 22, 2020 8:21 PM

Looks like Eicher motors has broken TWO YEARS trend line drawn from April'18.

Can go LONG in it, if it crosses 20310.

Trade active

⋅ Jul 23, 2020 10:23 AM

That was a beautiful break out with 5% up in a single day.

Trade active

⋅ Jul 27, 2020 11:56 AM

Can go long (preferably with Sep futures) with target of 22500 and SL 19680

Trade active

⋅ Jul 28, 2020 10:22 AM

Stop Loss can be changed to 20214

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⋅ Aug 13, 2020 5:52 AM

Change stop loss to 21160

Comments

JPCorp3

⋅ Jul 30, 2020 1:25 PM

Is it right time to enter or should wait till stock split?

SaiKiran578

⋅ Jul 30, 2020 1:47 PM

@JPCorp3, Stock split date is not yet announced. and the first resistance i.e, 21500 is reached, so after an excellent breakout, consolidation might be expected. So I suggest you to wait.

Loosing money is far better than missing an opportunity, as we will have plenty of opportunities in the market.

Taurus333

⋅ Jul 28, 2020 5:18 PM

What could be one month target considering stock split in Aug(maybe)?

SaiKiran578

⋅ Jul 28, 2020 6:25 PM

@himanshu93,

Target 1 - 21500, Target 2 - 22600.

Stock split is not yet decided, but if it got announced, based on the history, there is quick 10% move in the 2 r 3 weeks period of time. So it can even go above 24000.
The same has happened with SBI earlier.

Taurus333

⋅ Jul 29, 2020 12:01 AM

@SaiKiran578, thanks for your valuable comments. Also stock split will happen in 1:10 ratio, only the date is not announced.