The analyst suggests monitoring volume closely for confirmation.
Eicher Motors is on the analysts’ radar, driven by a breakout potential on its technical charts.
SEBI-registered analyst Mayank Singh Chandel advises adding it to the stock watchlist.
Technical Watch
Chandel said that Eicher’s chart is showing a clear symmetrical triangle pattern formed by two trendlines sloping towards each other. This pattern represents a period of consolidation, where the price can make a strong move in either direction once one of the trendlines is broken.
If the price closes above the upper triangle line with high volume, it could signal a bullish move, he added. Similarly, if the price breaks down below the lower triangle line with volume, it could indicate bearish momentum.
He recommended watching for a significant increase in volume at the time of breakout to help confirm the move.
What’s Working For Eicher?
The auto major recently reported its June quarter (Q1 FY26) earnings. Revenue from operations rose 14.7% to ₹5,041.8 crore, while profit after tax rose 9.4% to ₹1,205.2 crore.
Managing Director B Govindarajan said Eicher Motors had a strong start to the year, with encouraging growth in both Royal Enfield and VECV. “We continue to build consistent momentum in volumes, profitability, and the overall strength of our portfolio. At Royal Enfield, we have witnessed a sustained growth in the first quarter, driven by continued focus on product innovation and customer experience”.
What Is The Retail Mood?
Data on Stocktwits shows that retail sentiment has remained ‘neutral’ for over a week on this counter.
Eicher Motors shares have risen 18% year-to-date (YTD)
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