EICHER MOTORS – EICHERMOT (1D Chart) Elliott Wave Technical AnalysisFunction: Larger Degree Trend Higher (Minuette degree, orange)
Mode: Motive
Structure: Impulse
Position: Minuette Wave (iii) Orange
Details: Minuette Wave (iii) Orange of Minute Wave ((v)) Navy within Minor Wave 5 is progressing against 4275. Alternatively Intermediate Wave (5) Orange terminated around 5075. Invalidation point: 4275Eicher Motors Daily Chart Technical Analysis and potential Elliott Wave Counts: Eicher Motors daily chart is indicating a progressive Minor Wave 5 of Intermediate Wave (5) Orange set to rally above 5075 mark. Alternatively, Wave (5) Orange might be complete around 5075 and bears could be back in control. The stock had earlier terminated Intermediate Wave (4) Orange around 2170 level in March 2022. Since then, Minor degree Waves 1, 2, 3 and 4 can be seen complete as marked on the daily chart. Minor Wave 4 terminated as a contracting triangle around 3285 mark. If correct, Minor Wave 5 Grey is progressing higher and can also be sub divided into Minute Waves ((i)), ((ii)), ((iii)) and ((iv)) respectively. Minute Wave ((v)) Navy is unfolding higher at the time of writing and prices should likely stay above 4275. 
EICHER MOTORS – EICHERMOT (4H Chart) Elliott Wave / Technical Analysis: Function: Larger Degree Trend Higher (Minuette degree, orange)
Mode: Motive
Structure: Impulse
Position: Minuette Wave (iii) Orange
Details: Minuette Wave (iii) Orange of Minute Wave ((v)) Navy within Minor Wave 5 is progressing against 4275. Alternatively Intermediate Wave (5) Orange terminated around 5075. A break below 4545 will add further confidence to bearish outlook. Invalidation point: 4275Eicher Motors 4H Chart Technical Analysis and potential Elliott Wave Counts: Eicher Motors 4H chart further highlights the sub waves within Minute Wave ((v)) Navy since 4275 lows. Probable Minuette Wave (i) and (ii) Orange look complete around 4975 and 4545-50 levels. If correct, Minuette Wave (iii) Orange is now progressing higher against 4545-50. Alternatively, Minute Wave (v) Navy already terminated around 5075 high, which was registered on July 26, 2024 and the stock has turned lower since. A break below 4545-50 will confirm further if bears are back in control. 
Conclusion:Eicher Motors could be progressing higher in Minute Wave ((v)) Navy within Minor Wave 5 Grey of Intermediate Wave (5) Orange against 4275 broadly. More By This Author:GBPAUD Forex Elliott Wave Technical Analysis – Tuesday, September 10
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