EICHERMOT 11.08.2018 05:40PM

Eicher motors stock’s technical chart in daily time frame has formed “Fallingwedge” pattern. As we can see that the lastsessionbeen a strong bullish one after few negative rallies inside the channel, ending up near the channel’s resistance slope line.As per the technical aspects of the pattern, the market is expected to retest the resistance slope line and turn bearish. The negative rally could be testing all the way through 28800-28400 levels in the upcoming sessions. On the other hand, the stock might have a chance to continue on bullishonce the price breaks above the key resistance holding at 29100.And the upside rally could test 29500-30000 levels. Key support holds at 27600.

Technical Chart:

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