EICHER MOTORS LTDShort
Eicher Motor - Tri Sangam Chart Pattern
Tri Sangam chart pattern is found in Eicher Motor.
1. Rounding Top
2. Head & Shoulder and
3. Inverted Cup with Handle
Multiple confluence hints that if price fall below 2400 all of the above mentioned chart patterns will active and the best part is that targets 1850 are same for all patterns. As per H&S or Inverted cup with handle pattern, SL would be around 2700 but the overall structure is week, so we make our Stop Loss little tighter Rs 2600 (high of Shooting Star).
Please note that there is an important hurdle near 2335, once it break the path of target is clear.
Sell Below 2400
Stop Loss 2600
Target 1 2000 (Important Support and Round Number)
Target 2 1850 (High probability of achieving this target)
Once Price break below 2335 trail your SL 2520
1. Rounding Top
2. Head & Shoulder and
3. Inverted Cup with Handle
Multiple confluence hints that if price fall below 2400 all of the above mentioned chart patterns will active and the best part is that targets 1850 are same for all patterns. As per H&S or Inverted cup with handle pattern, SL would be around 2700 but the overall structure is week, so we make our Stop Loss little tighter Rs 2600 (high of Shooting Star).
Please note that there is an important hurdle near 2335, once it break the path of target is clear.
Sell Below 2400
Stop Loss 2600
Target 1 2000 (Important Support and Round Number)
Target 2 1850 (High probability of achieving this target)
Once Price break below 2335 trail your SL 2520
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