FORCE MOTORS – Rebounding from Oversold Zone 🚛

Technical View:

jumped +5.6% to ₹17,565, rebounding strongly from the ₹16,000 support zone. RSI at 54 indicates early recovery; trading just above 21-EMA (₹16,990). Resistance: ₹17,900–₹18,500 | Support: ₹16,800–₹16,200. Break above ₹18,500 could resume the larger uptrend toward ₹19,800+. Fundamental View: Strong revival in LCV and van sales, healthy export growth, and improving margins. Diversification into defense and EV segments adds long-term optionality. Valuation remains attractive (~16x FY25E EPS). 🎯 Target: ₹19,800 (+12%) 🛑 Stop-Loss: ₹16,400 📊 Bias: Positive – short-term reversal in progress with improving volume pattern.