NeeteshJain
Long

Hero Motors - ABCD Bullish Pattern

BSE:HEROMOTOCO   HERO MOTOCORP LTD
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4
297 0
It is been observed that the price action forming a bullish ABCD pattern, indicating further move up. It has retraced to 23.6% levels and now it shall further move up to 38.2% levels.

Target: 3482
Stoploss: 3375
Oct 27
Trade active: Opened up at 3470 close to target but drops immediately after that, signaling selling pressure. Now, if it breaks and closes below 3322 levels, then it shall further move down.
Oct 27
Trade closed: stop reached: The pattern did work out well due to this reason:

Lesson: "If C retraces ~61.80% of AB, D should be 161.80% of BC" suggested by @bbrijesh
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