Eicher Motors (one day chart) Elliott Wave technical analysis

Function: Larger Degree Trend Higher (Intermediate Degree, Orange).

Mode: Motive.

Structure: Impulse.

Position: Minute Wave ((v)) Navy.

Details: The wave counts have been adjusted as price action breaks through 5300 zone. The stock might be unfolding Minute Wave ((v)) of Minor Wave 5 within Intermediate Wave (5) Orange.

Invalidation point: 4700.

Chart

Eicher Motors daily chart technical analysis and potential Elliott Wave counts:

EICHER MOTORS daily chart is indicating a progressive trend higher, which is within its final wave, to terminate above the 5400 mark. Alternatively, if the stock slides below 4800 and 4700 levels going forward, it would confirm Wave 5 of (5) already completed around the 5390-5400 zone.

The stock terminated Intermediate Wave (4) around 2160 levels in March 2022. The subsequent rally indicates five wave progression towards 5390. The stock may be close to a major top or it is already in place around 5400 levels.

Eicher Motors – (four-hour chart) Elliott Wave technical analysis

Function: Larger Degree Trend Higher (Intermediate Degree, Orange).

Mode: Motive.

Structure: Impulse.

Position: Minute Wave ((v)) Navy.

Details: The wave counts have been adjusted as price action breaks through 5300 zone. The stock might be unfolding Minute Wave ((v)) of Minor Wave 5 within Intermediate Wave (5) Orange. Minute Wave ((iv)) unfolded as a potential triangle and Wave ((v)) is nor progressing as an impulse.

Invalidation point: 4700.

Chart

Eicher Motors four-hour chart technical analysis and potential Elliott Wave counts:

EICHER MOTORS 4H chart is highlighting the sub waves after Minute Wave ((iii)) of Minor Wave 5 within Intermediate Wave (5) terminated around 5100 levels. Minute Wave ((iv)) could be seen as potential triangle, terminating around the 4700 mark.

If the above holds well, Minute Wave ((v)) could be progressing higher and unfolding as an impulse. Ideally, prices should stay above 4830-40 zone, to keep the impulse structure intact. A drag lower would confirm that a top is in place around 5390-5400.

Conclusion:

EICHER MOTORS is progressing higher within Minute Wave ((v)) of Minor Wave 5 of Intermediate Wave (5) against 4700.

Elliott Wave analyst: Harsh Japee.

Eicher Motors Elliott Wave technical analysis [Video]

Share: Feed news

As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.

Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.

The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.

Recommended content


Recommended content

Editors’ Picks

US Federal Reserve leaves rates unchanged, USD up– LIVE

US Federal Reserve leaves rates unchanged, USD up– LIVE

As widely anticipated, the Federal Reserve left the benchmark interest rate following the January meeting. The dovish stance undermines the market mood, pushing the US Dollar up against most major rivals as an immediate reaction to the news. 

FOLLOW US LIVE
EUR/USD eases towards 1.0400 after FOMC's announcement

EUR/USD eases towards 1.0400 after FOMC's announcement

EUR/USD eases towards the 1.0400 figure after the US Federal Reserve announced a no-change in its monetary policy stance.  Stocks turned lower, reflecting a souring mood, yet action is limited ahead of Chairman Powell's speech. 

EUR/USD News
GBP/USD retains gains above 1.2400 in the Fed's aftermath

GBP/USD retains gains above 1.2400 in the Fed's aftermath

The GBP/USD is giving up some of its early gains but trades above the 1.2400 mark after the FOMC announcement. Investors await fresh clues from Federal Reserve Chairman Jerome Powell's press conference. 

GBP/USD News
Gold extends slide below $2,750 post Fed

Gold extends slide below $2,750 post Fed

Gold prices trade at fresh daily lows below the $2,750 mark after the Fed decided to keep the benchmark interest rate unchanged. The statement offers a hawkish tilt, yet nothing unexpected. Powell's speech is coming up next. 

Gold News
Bitcoin Price Forecast: BTC expects volatility on Fed interest rate decision

Bitcoin Price Forecast: BTC expects volatility on Fed interest rate decision

Bitcoin (BTC) price recovers and hovers around $102,800 on Wednesday after declining for four consecutive days. A K33 Research explains how Nvidia’s big drop in stock valuation this week, driven by DeepSeek, affected Bitcoin’s price.

Read more
Trusted Broker Reviews for Smarter Trading

Trusted Broker Reviews for Smarter Trading

VERIFIED Discover in-depth reviews of reliable brokers. Compare features like spreads, leverage, and platforms. Find the perfect fit for your trading style, from CFDs to Forex pairs like EUR/USD and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures