EICHER MOTORS STOCK RECOMMENDATION
| CP# | 20537.7 |
| Idea | SELL |
| Sell Range | 20990 – 20400 |
| Target | 18590 – 17940 |
| StopLoss* | 21890 |
| Duration | 15 – 18 Trading Days |
| Potential Returns^ | 10 – 13% |
| CP# | Idea | Sell Range | Target | StopLoss* | Duration | Potential Returns^ |
| 20537.7 | SELL | 20990 – 20400 | 18590 – 17940 | 21890 | 15 – 18 Trading Days | 10 – 13% |
# CP – closing price on 27 July 2020.
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 19564.
^ Potential returns are calculated based on the median of sell range.
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EICHER MOTORS COMPANY OVERVIEW
Eicher Motors Limited (NSE: EICHERMOT) designs, develops, manufactures, assembles and sells two-wheelers motorcycles and commercial vehicles in India and internationally. The company Eicher Motor Limited owns Royal Enfield motorcycles brand which offers Classic, Bullet, Himalayan and Thunderbird models. Eicher Motors Limited (EML’S) 50-50 joint venture with the Sweden Volvo group, VE Commercial Vehicles Limited (VECV), designs, manufactures and markets light and medium-duty trucks, heavy-duty trucks and buses under Eicher brands and Volvo trucks. The buses are sold under the Skyline and Starline brands. The company EICHERMOT posts 17% decline in net profit at Rs 1827.44 crore in FY20; revenue dropped by 6.5%.
EICHER MOTORS STOCK INFORMATION
| Stock Data | |
| NSE Code | EICHERMOT |
| Sectoral Index | Nifty Auto |
| 52W High | 23,450 |
| 52W Low | 12,450.10 |
| Face Value | 10 |
EICHER MOTORS TECHNICAL ANALYSIS (WEEKLY)
- Looking at the Eicher Motors historical share price, the stock had witnessed a sharp decline from ₹ 32,236 to ₹ 12,450 in just two years.
- In the recent past, the share price of Eicher Motors witnessed a strong rally from it’s support to it’s resistance.
- After a consistent downtrend in the last three years, the stock price of Eicher Motors Limited had touched the resistance again, which corresponds to the earlier highs, thereby making it a strong resistance.
- Overall, Eicher Motors (NSE: EICHERMOT) price chart and the broader pattern are bearish, and recent closing below the Resistance had given us the opportunity to sell the stock.
- We expect Eicher Motors share target will be 10-13% below of the current market price. So, one can sell this stock based on our Swing Trading advice.
EICHER MOTORS TECHNICAL ANALYSIS (ROC)
- As seen in the Eicher Motors chart analysis, ROC (14) has formed negative divergence on the daily chart, which indicates lossing of buying momentum and a possible rise of trend reversal.
EICHER MOTORS TECHNICAL ANALYSIS (RSI)
- Eicher Motors share price is moving higher high, whereas the momentum oscillator RSI has formed lower low in the daily chart.
- RSI has shown negative divergence on the daily chart; we are anticipating the Eicher Motor stock price will go down in future trading sessions.
CONCLUSION - EICHER MOTORS SHARE PRICE FORECAST
EICHER MOTORS TRADING UPDATE - POSITION & ACTIVITIES
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⭐️ Ultra Equity Advice #139: ████
— Goodluck Capital (@CapitalGoodluck) July 28, 2020
28 July 2020
Positional #trading recommendation - SELL
Potential return 10-13% in 15 days
Minimum profit ₹ 75,000/Lot in F&O future
Risk Reward = 1 : 2
● original post: https://t.co/C0nwiu3Sot#SwingTrading #TradingAdvice #stocks