This Friday Eicher Motors roared back high on its heels as the news of its joint venture with Volvo, VE Commercial Vehicles, pumping its capacity to help it become the largest engine manufacturer for the commercial vehicles in the country, hitting the market. The stock geared up for an elevation of Rs 956.

The uptrend has the targets of reaching Rs 824 and Rs 1,016. The stock has slithered past its first round of target on Friday and moving ahead for its next target provided the uptrend could sustain its balance made.

However, the zone of Rs 1,000 is acting as a resistance for the stock, and then the short-term investors shall take some money out at this level. Further the investors investing in this can hold the stock with the stop at Rs 760.

The table at this counter portrayed in red-hot on Wednesday as the stock plunged 20 per cent higher fueled by the announcement of the joint venture with Bharat Forge shaking hands to manufacture and market an superiorly developed hybrid technology solution for the automobiles.

Although the other market participants seem to have the word of caution since the announcement is in open in the air and the stock has been rooming higher since May 31. It scored 53 per cent from its position and suddenly reached the peak at Rs 141.