14Jan

Eicher Motors Share Price Analysis: Elliott Wave Forecast, Technical Insights, Price Action, Stock Trends, and Investment Strategy

EICHER MOTORS – EICHERMOT Elliott Wave Technical Analysis (1D Chart)

EICHERMOT Elliott Wave Analysis

Larger Degree Trend: Higher (Intermediate Degree, Orange)

  • Mode: Motive
  • Structure: Impulse
  • Position: Minute Wave ((v)) Navy

Analysis Details:

The wave counts have been revised following a price action breakout above the 5300 zone. The stock appears to be unfolding Minute Wave ((v)) of Minor Wave 5, which lies within Intermediate Wave (5) Orange.

  • Invalidation Point: 4700

EICHER MOTORS Daily Chart: Technical Analysis and Potential Elliott Wave Counts

The daily chart indicates a strong upward trend, progressing toward a potential termination above the 5400 mark. However, if the stock declines below 4800 and then 4700, it could signal that Wave 5 of (5) concluded near the 5390-5400 zone.

  • Intermediate Wave (4) ended around 2160 levels in March 2022.
  • The subsequent rally unfolded a five-wave progression toward the 5390 level.

At this stage, the stock may be approaching a significant peak or might have already reached it around 5400 levels.

EICHER-MOTORS-1d-ind...


EICHER MOTORS – EICHERMOT Elliott Wave Technical Analysis (4H Chart)

Larger Degree Trend: Higher (Intermediate Degree, Orange)

  • Mode: Motive
  • Structure: Impulse
  • Position: Minute Wave ((v)) Navy

Analysis Details:

The wave counts were adjusted as the price crossed the 5300 zone, suggesting that the stock is forming Minute Wave ((v)) of Minor Wave 5 within Intermediate Wave (5) Orange. Minute Wave ((iv)) unfolded as a triangle, and Minute Wave ((v)) appears to be progressing as an impulse.

  • Invalidation Point: 4700

EICHER MOTORS 4H Chart: Technical Analysis and Potential Elliott Wave Counts

The 4H chart highlights sub-waves of Minor Wave 5 within Intermediate Wave (5):

  • Minute Wave ((iii)) terminated around 5100 levels.
  • Minute Wave ((iv)) unfolded as a potential triangle, likely terminating around 4700.

If this count holds, Minute Wave ((v)) could continue progressing upward, unfolding as an impulse. Prices should remain above the 4830-4840 zone to maintain the impulse structure. A drop below this level would confirm that the stock has already reached a peak near the 5390-5400 zone.

Technical Analyst: Harsh Japee

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EICHER-MOTORS-4h-ind...


Conclusion:

EICHER MOTORS is advancing within Minute Wave ((v)) of Minor Wave 5 of Intermediate Wave (5), with 4700 as the key invalidation point for this wave count.

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