forextidings

EWT - Is EICHERMOT Forming Wave (5) Of Its WaveCycle?

NSE:EICHERMOT   EICHER MOTORS
Timeframe: Daily

NSE EICHER motors have accomplished the corrective wave (4) and started forming impulsive waves (5). The price is currently forming sub-waves of the impulsive waves (5).

Wave (2) was a sharp zigzag, so wave (4) formed the choppy structure triangle. Since wave (3) was an extensive wave, we cannot expect wave (5) to extend with a high probability.

Eicher motors have given a good breakout and broken out wave 2 of the triangle and impulsive wave (3). If the price sustains above 3790, traders can trade for the following targets: 3948 -3992 - 4030+.

I will update further information soon.

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.