Eicher Motors Ltd - Big breakout loading…

📊 Eicher Motors Ltd (NSE) – Technical Analysis (Daily Chart)

Eicher Motors is trading at ₹5,764, forming a triangle consolidation pattern inside a larger ascending channel. The price is now testing the upper boundary of this triangle, signaling a possible breakout.

🔑 Key Insights

🔺 Triangle Pattern: Price is squeezing within a contracting triangle. A breakout above resistance could trigger a strong move.
✅ Support Zone: ₹5,565 remains the critical support inside the pattern.
✅ Resistance Zone: ₹5,789 is the breakout level to watch.
✅ Upside Targets (on breakout):

🎯 First Target: ₹6,251

🎯 Second Target: ₹6,806

⚠️ Downside Risk: If the price fails to break out and slips below ₹5,565, it may retest ₹5,400 – ₹5,200 levels.

📌 Conclusion

Bullish Case: A confirmed breakout above the triangle resistance at ₹5,789 could extend the rally toward ₹6,251 and ₹6,806.

Bearish Case: A breakdown below ₹5,565 would invalidate the bullish setup and invite further downside.


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