Stock has given a BO above resistance level. Close above 160 with strength candle can see the stock reaching 172-175 level as there is candle shunting up to the resistance level.
If stock close above 176 level with strength candle, it can see level of 209 as there is candle shunting with least resistance
After a decent correction, stock is showing signs of continuing its upward movement. It has formed a higher low and ready to break out its recent high. If high is broken with strength stock could see a 10% movement
Stock has given a 10 month range break out with strength candle. This week it has also given a ICMC BO
Stock once crosses 563 can go up to 665.
Company is fundamentally sound with almost zero debt with good increase in sales Q on Q
3 CAGR of 13% and ROE of 16%.
Eicher has made a lower low @ 2317 and subsequently went to make a HH, It gave a pullback and has resumed its upward journey.
Any strength close above 2522 can take the stock to 2700 level.
Disclosure -> Above analysis is only for educational purpose. Trade at your own risk. NSE:EICHERMOT