Stock of Interest

Posted On: July 7, 2023

Stock Report : EICHERMOT (NSE) 6 Jul 2023

Outlook: Bullish

Eicher Motors Limited is an Indian multinational automotive company that specializes in motorcycles and commercial vehicles. Founded in 1948 by Vikram Lal, the company is headquartered in New Delhi. Its notable subsidiary, Royal Enfield, is a renowned manufacturer of middleweight motorcycles known for their classic designs and performance. Eicher Motors also owns VE Commercial Vehicles, which produces commercial trucks and buses. With a workforce of 4,739 employees as of 2022, Eicher Motors has achieved significant revenue growth, reaching 15,037.29 crores INR (approximately US$1.9 billion) in 2023.

xCalData predicts EICHERMOT will continue its bearish phase over the next five days.

During this period, EICHERMOT is expected to be within the range of 3,491 to 3,336.

In comparison to the previous month, the price of the stock has experienced a decline of 10.53%. This decrease indicates a negative movement in the stock’s price during that period. It’s important to note that a 10.53% decline over one month is a significant drop, and it suggests a bearish sentiment in the market.

The Stock has doubled once since 21 Apr 2015 and took an average of 2.0 years to double.

Majority of the technical ratios trend towards bearish side of the spectrum. Only 2 of the technical indicators namely ASI and RVI indicate bullish view.

Collectively, xCalData suggests the stock would be in Bearish zone for this week ending 7^th July.

the stock has not shown the seasonality trend in the past.  

However, reviewing the returns for the past 5 years for the same week, we see the stock has given positive returns in 3 years and negative returns in 2 years in the past.

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Disclaimer: The securities quoted are for illustration only and are not recommendatory.