Key Events This Week
2 Feb: Stock opens week at Rs.6,985.30, down 1.92%
3 Feb: Strong gap up and intraday high at Rs.7,258.45, closing +3.67%
4 Feb: Continued gains, closing at Rs.7,277.30 (+0.88%)
5 Feb: Profit booking leads to 0.95% decline
6 Feb: Week closes at Rs.7,176.25, down 0.45% on day
Monday, 2 February 2026: Weak Start Amid Broader Market Decline
Eicher Motors began the week on a subdued note, closing at Rs.6,985.30, down 1.92% from the previous Friday’s close of Rs.7,122.30. This decline was in line with the broader market, as the Sensex fell 1.03% to 35,814.09. The stock’s volume was relatively elevated at 13,798 shares, indicating active trading amid the negative sentiment. The drop reflected cautious investor positioning ahead of anticipated developments later in the week.
Tuesday, 3 February 2026: Strong Gap Up and Intraday Surge
On 3 February, Eicher Motors delivered a robust performance, opening with a significant gap up of 3.23% and closing the day at Rs.7,213.55, a gain of 3.27%. The stock reached an intraday high of Rs.7,258.45, marking a 3.91% increase from the prior close. This surge outpaced both the Automobile Two & Three Wheelers sector, which gained 2.14%, and the Sensex’s 2.63% rise to 36,755.96.
The strong opening reflected positive market sentiment and sustained buying momentum throughout the session. Technical indicators showed the stock trading above its 5-day, 50-day, 100-day, and 200-day moving averages, signalling strength across multiple time horizons. However, it remained slightly below the 20-day moving average, suggesting some near-term resistance.
This day’s performance marked the second consecutive day of gains, with a cumulative return of 4.59% over the two-day period. The Mojo Score of 71.0 and a Buy grade reaffirmed the stock’s positive momentum, supported by MarketsMOJO’s recent upgrade from Hold in November 2025.
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Wednesday, 4 February 2026: Continued Gains Amid Moderate Volume
Eicher Motors extended its gains on 4 February, closing at Rs.7,277.30, up 0.88% on the day. The Sensex also advanced, albeit modestly, by 0.37% to 36,890.21. The stock’s volume declined to 3,208 shares, reflecting a quieter session but sustained buying interest.
The stock maintained its position above key moving averages, reinforcing the medium-term positive trend. The incremental gain contributed to a three-day winning streak, with the stock up approximately 4.2% from Monday’s close. This steady advance suggested investor confidence in the company’s fundamentals and sector outlook.
Thursday, 5 February 2026: Profit Booking Triggers Decline
Profit booking emerged on 5 February, with Eicher Motors retreating 0.95% to close at Rs.7,208.45. The Sensex also declined by 0.53% to 36,695.11. The stock’s volume further tapered to 2,267 shares, indicating reduced trading activity amid the pullback.
This correction followed the strong gains earlier in the week and may reflect short-term traders locking in profits. Despite the decline, the stock remained above its 5-day and longer-term moving averages, suggesting the correction was a temporary consolidation rather than a reversal of the uptrend.
Friday, 6 February 2026: Mild Decline to Close Week
On the final trading day of the week, Eicher Motors slipped a further 0.45% to Rs.7,176.25, closing the week with a net gain of 0.76% from Monday’s open. The Sensex, in contrast, ended slightly higher by 0.10% at 36,730.20. Volume was the lowest of the week at 1,739 shares, reflecting subdued market interest ahead of the weekend.
The stock’s modest decline on Friday capped a week of mixed but generally positive price action. The relative underperformance versus the Sensex’s 1.51% weekly gain highlights some caution among investors despite the earlier strength.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-02 | Rs.6,985.30 | -1.92% | 35,814.09 | -1.03% |
| 2026-02-03 | Rs.7,213.55 | +3.27% | 36,755.96 | +2.63% |
| 2026-02-04 | Rs.7,277.30 | +0.88% | 36,890.21 | +0.37% |
| 2026-02-05 | Rs.7,208.45 | -0.95% | 36,695.11 | -0.53% |
| 2026-02-06 | Rs.7,176.25 | -0.45% | 36,730.20 | +0.10% |
Key Takeaways
Positive Signals: The strong gap up and intraday highs on 3 February demonstrated robust investor demand and positive sentiment towards Eicher Motors. The stock’s ability to maintain gains above multiple moving averages indicates a healthy medium- to long-term trend. The Mojo Score of 71.0 and Buy grade reflect improved fundamentals and market positioning.
Cautionary Notes: Despite midweek strength, the stock underperformed the Sensex’s weekly gain, closing with a modest 0.76% increase. Profit booking on 5 February and the subsequent mild decline on 6 February suggest some near-term consolidation. Technical indicators show resistance near the 20-day moving average, which may limit immediate upside.
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Conclusion
Eicher Motors Ltd’s week was characterised by a strong midweek rally driven by a significant gap up and sustained buying interest, followed by a mild correction and consolidation towards the week’s close. While the stock’s 0.76% weekly gain lagged the Sensex’s 1.51% rise, the overall price action and technical positioning remain constructive. The recent Mojo upgrade to a Buy grade and the stock’s resilience above key moving averages underscore its current strength within the automobile sector. Investors should note the near-term resistance levels and moderate volume trends as the stock navigates this phase of consolidation.
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