Buy Eicher Motors Ltd For Target Rs. 3780 - Religare Broking
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* Eicher Motors is among the top performing names within the auto basket. In the last leg of the up move, it posted strong gains after the breakout from a consolidation range of 2300-3000 levels.
* It has been seeing profit taking for the last three months, after making a new record high at 3889.45 levels and retraced closer to the neckline (breakout) area of that consolidation range again.
* It has formed a strong base around the 3100 mark and looks set to resume the uptrend soon. It’s an excellent opportunity for those who missed the chance earlier. We thus recommend accumulating in the mentioned range.
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