Build long positions in Eicher Motors: Mithil Pradhan

Mithil Pradhan of Violet Arc Global Managers told CNBC-TV18, "Eicher Motors has completed a short-term decline, so approximately around Rs 20,200 it completed a decline and has given higher high breakout today. Therefore, I would suggest that traders should look at building long positions here. The stock is in a very strong uptrend, so Rs 22,000 to Rs 22,500 should be coming any point of time. I would keep a stop loss of Rs 20,700 for the time being and target of Rs 22,000 in the short-term."At 12:50 hrs Eicher Motors was quoting at Rs 21,236.35, up Rs 285.75, or 1.36 percent. It has touched an intraday high of Rs 21,280 and an intraday low of Rs 20,752.