Eicher Motors is showing a bearish trend on the daily chart after facing resistance near ₹8,050–₹8,200. The stock has declined sharply and is currently trading around ₹7,005, indicating selling pressure. A minor rebound is visible, but the overall structure remains weak.
Technical View: Immediate support is near ₹6,887, followed by ₹6,654 and ₹6,421. Resistance lies around ₹7,120–₹7,273. The stock needs to reclaim these levels to improve its short-term structure.
Key Levels:
Support: ₹6,887 / ₹6,654 / ₹6,421
Resistance: ₹7,120 / ₹7,273 / ₹7,353
Higher Resistance: ₹7,586–₹7,819
Bearish Scenario: A breakdown below ₹6,887 may lead to further weakness towards ₹6,654 and ₹6,421.
Bullish Scenario: Sustaining above ₹7,273 may support a recovery towards ₹7,353 and ₹7,586.
Trading View: Cautious to bearish until the stock shows a sustained recovery above key resistance levels.
For educational purposes only. Not a buy/sell recommendation.
— AALGO BREATHS 📊