Eicher Motors Ltd on a daily chart stock price is
making higher high and higher low pattern with increase in volumes. indicate rally
will continue towards north. On a chart, we witnessed stock price was trading below
20 DMA and 50 DMA from last 15 trading session but on Friday index has closed
above the same, indicate stock price has find the support level. Momentum
Oscillator MACD has given the positive crossover, which further add bullishness
into stock price.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs.22760 for the target of Rs. 24000/25300 levels, with
Rs. 22200 stop loss on closing basis.
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