In this article, let us sneak into trading using patterns and indicators in stocks. One such example which can be seen is Eicher Motors.
- Eicher Motors broken below 200 DMA showing signs of weakness on the charts.
- The stock has formed lower top and broken below bearish triangular pattern
- The momentum indicators hinting a breakout on the southward direction
Where is stock headed in near to medium term and long term ???
Is it the right time to Sell stock ???
Is there still an opportunity to make money by short selling ???
Yes. There is still a short selling opportunity in the stock can drift lower 10% or more but managing risk & money with timing is important in trading success.
The key Confluence Zone for the stock :
R – 29300 / _ _ _ _ _
S – 28000 / _ _ _ _ _
The Elliot wave counts for short and medium term with other objective trading strategies are not shown on the charts above ….
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