To be honest we like the Eicher Motors Limited stock as it has carved such a niche for its products in the market that very few can compete with it in that price segment. We recommend that this is one stock that should be in every individual portfolio with a long term perspective. Eicher Motors has fallen sharply on poor sales in December 2019. It would be prudent to buy this share at such low rates as it has a monopoly in its segment.
As of the date, the stock has broken the floor of the rising trend channel in the medium to long term and thus it provides a good opportunity to accumulate the stock. The problem is that its price is in five-digit and thus very many traders are wary of buying this stock as they consider this stock as costly. Mind it that this stock is in the range of 20K and MRF is in a range of 66K. So, price is just a psychological barrier.
As of now, the stock is moving within a rectangle formation between support at 20000 and resistance at 20603 and thereafter on crossing it and sustaining it can target 22705 to 24000 levels. A decisive breakthrough one of these levels indicates the new direction for the stock.
The stock is testing the support at rupee 20000. This could give a positive reaction, but a downward breakthrough of rupee 20000 means a negative signal.
So, as of now, the stock is moving upwards and we see it giving 20% returns by holding with a long term perspective. You can consider our short term investment stocks or intraday tips for your investment and trading requirements.
As of the date, the stock has broken the floor of the rising trend channel in the medium to long term and thus it provides a good opportunity to accumulate the stock. The problem is that its price is in five-digit and thus very many traders are wary of buying this stock as they consider this stock as costly. Mind it that this stock is in the range of 20K and MRF is in a range of 66K. So, price is just a psychological barrier.
As of now, the stock is moving within a rectangle formation between support at 20000 and resistance at 20603 and thereafter on crossing it and sustaining it can target 22705 to 24000 levels. A decisive breakthrough one of these levels indicates the new direction for the stock.
The stock is testing the support at rupee 20000. This could give a positive reaction, but a downward breakthrough of rupee 20000 means a negative signal.
So, as of now, the stock is moving upwards and we see it giving 20% returns by holding with a long term perspective. You can consider our short term investment stocks or intraday tips for your investment and trading requirements.
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