Trade Idea of The Day - Eicher Motors Ltd Target Rs. 250 - Religare Broking Ltd
Eicher Motors Ltd
BUY 28 JUL 7500 CALL Entry Range 160-170 Target 250 Stop Loss 120
Rationale
1. EICHERMOTOR continued to exhibit a bullish structure by sustained trading above both the 20-EMA and 50-EMA on the weekly timeframe, reflecting a strong long-term uptrend. The recent rebound from the short-term moving average reinforces buying interest and suggests the prevailing positive momentum remains intact.
2. The stock is gradually approaching its recent swing high, and a decisive breakout above the 7,600-7,650 zone could trigger fresh upside momentum. Such a move may pave the way for an extended rally toward the 7,850-8,000 levels over the medium term.
3. Momentum indicators remain supportive, with the RSI holding above the 55 mark, indicating improving strength without entering the overbought territory. Meanwhile, the MACD has maintained a positive crossover, highlighting sustained bullish momentum.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ00017433
