NSE:HEROMOTOCO   HERO MOTOCORP LTD
First post after long duration

Hero Motors Bearish view

  • The Chikou span is the lagging indicator component of the Ichimoku Kinko Hyo candlestick trading model.A Chikou span that is currently trading below where prices were 26 periods ago indicates a downtrend

  • The tenkan sen/kijun sen cross is one of the most traditional trading strategies within the Ichimoku Kinko Hyo system. If the tenkan sen crosses below the kijun sen, then that is a bearish signal.

  • The Kumo is typically looked at in terms of support and resistance ; if it is thick, then the support/resistance is strong. If the price is below the Kumo, then it is under resistance and it is better to be looking for shorts instead of longs.

  • The only one thing which can help is that one trendline which is actict as support if it is broken I am expecting good fall in Hero motors.

  • Overall stock is looking Bearish to me. This is my personal view No Buy or No Sell call.

  • NOTE - There is news about the 100cc vehicle from Karnataka court dont know how the stock will react to it.... Happy Trading

Comments

Not a good idea to trade short when the kijun is flat like that...
Reply
razultull razultull
@razultull, let me clarify, there was actually short here once the price punched down through kijun to the downside. But at this point not sure...maybe if there’s a pullback to the kijun and then a bounce.
Reply
CPR_Trader razultull
@razultull, thank you sir for your insight I will keep it in mind..... but if Tenkan crosses Kijun (down) then is it short position...?
Reply
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