Eicher Motors has experienced a downward trend over the past few days, but has recently shown signs of support with a strong bullish candle. As a professional trader, we can consider taking a swing trade by going long on the open of the next candle.
To mitigate potential losses, we will set a stop loss below the support zone with a reasonable buffer. This will help us exit the trade if the market moves against us.
In terms of our target, we will aim for the next resistance zone as marked on the chart. By doing so, we can potentially profit from the uptrend that we anticipate.
As with any trade, it's important to exercise caution and make informed decisions. We must always be prepared for unexpected market movements and adjust our strategy accordingly.
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