Eicher Motors consolidation breakout

7 days ago

Eicher Motors has recently broken out of a consolidation phase near the key resistance level of ₹5,385, signaling the potential for a strong uptrend continuation. A successful breakout could target ₹5,500-₹5,700 in the short term, offering an attractive swing trade setup. For positional traders, the long-term structure supports a target of ₹6,000-₹6,200, with strong support at ₹5,000-₹5,100 minimizing downside risk. Indicators such as a bullish MACD and RSI in the overbought zone highlight strong momentum but also caution of potential short-term pullbacks to the ₹5,100-₹5,000 range, which could provide better entry points. With a stop-loss at ₹5,200 for swing trades and ₹4,800 for positional trades, Eicher Motors offers a favorable risk-reward ratio. The consolidation near resistance and overall technical strength make it a solid candidate for both short-term and long-term trades.