EIH slips after Q2 profit jump, trend stays weak

EIH Associated Hotels shares fell 1.12% to 291.60 after Q2 profit rose 19.9%. Resistance is at 306 and support at 272. EIH Associated Hotels Limited [ EIHAHOTELS ] shares closed 1.12% lower at Rs 291.60 after its Q2 consolidated results. The stock opened at Rs 298.70 and fell to a low of Rs 290. Profit rose 19.9% year on year to Rs 136.4 crore, against Rs 113.8 crore. Revenue grew 16.1% to Rs 694.2 crore from Rs 597.9 crore. On the daily chart, price remains in a long downtrend from the 2024 high and is trading below the falling 100-day EMA at 298.26. The stock failed to hold near that average today. Weak follow-through after strong earnings suggests sellers are still in control. RSI at 53.37 is neutral, and volume was light at 31.42K. In my view, the trend is bearish while price stays below 306. A close above 306 would ease the selling pressure. A break below 272 support would open the way for a deeper decline. Stance: bearish below 306, with 272 as key support. Disclaimer: I do not hold any position in this. This content is for informational purposes only and is not a recommendation to buy or sell. Investments in securities are subject to market risks. Please read all related documents carefully before investing.