eicher motors share price: Big Movers on D-St: What should investors do with Fine Organic, Elgi Equipments and Eicher Motors?

By Jason Junior On Aug 11, 2022

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Indian market closed flat on Wednesday tracking muted global cues. The S&P BSE Sensex fell 35 points while Nifty50 managed to hold above 17,500 levels.

Sectorally, buying was seen in metals, capital goods, industrials, energy and auto stocks while some selling pressure was visible in IT, realty, consumer durables, and telecom.

Stocks that were in focus include names like Fine Organic which rose over 15 per cent,

which added over 3 per cent, and which gained nearly 2 per cent.

Here’s what Akhilesh Jat, Category Manager – Equity Research, CapitalVia Global Research recommends investors should do with these stocks when the market resumes trading today:

Fine Organic: Buy at 6850| Stop Loss Rs 6700;| Target Rs 7100
Shares price of Fine Organic surged over 17 per cent to hit a fresh all-time high of Rs 6844.95 after the company posted its first quarter result.

The stock has gained over 84 per cent of its market value on NSE so far in this calendar year. MACD histogram shows strength. A positive crossover suggests that the momentum may continue.

Elgi Equipment: Buy at 450| Stop Loss Rs 430| Target Rs 480

Shares price of Equipment closed in the green for third straight session. Prices rallied over 7 per cent on Wednesday and surpassed their previous all-time high.

A long bullish Candle after two consecutive indecision candles with marginally higher volume suggests that the stock continues with Higher-Low formation and is likely to move in an uptrend in the near term.

Eicher Motors: Sell Rs 3200| Stop Loss Rs 3100| Target Rs 3345

Share price of Eicher Motors is trading in a narrow range for the last couple of weeks. Prices managed to close positive for the second consecutive session on Wednesday.

Momentum oscillator RSI is headed upwards and standing above the center line, showing strength for upward movement. A breakout from the immediate resistance level of Rs 3200 may lead big Bull Run in the near term.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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