EICHER MOTORS looking good for swing trade with a 1:4 risk to reward ratio

Reasons for the trade-

1. A trendline which is green in colour had been tested for 3 times then the trendline breaks even after that the stock respects the trendline by taking resistance from it.

2. A trendline which is red in color had been broken now it is just below the price so this might also act as a support.

3. and at last the 200 ema is also supporting the stock.

Finally, we can conclude that the stock is at its crucial support so we should consider buying it.

THE REASON BEHIND THE STOP LOSS AND TARGET.

1. the stoploss had been placed just below the 200ema because it provides support most of the time (NOTE - only sell your stock in loss when it closes below 200ema ).

2. The target had been placed because the stock had consolidated there for several times previously.

HOPE YOU LIKED THE ANALYSIS DON'T FORGET TO LIKE AND FOLLOW.
All About Indices - chart - 8880757