Hero motocorp has a Bullish sloping trendline breakout, the chart shows support and resistance marked with horizontal lines. The breakout is supported by RSI trendline breakout plus increase in volumes in last few days. A support was found at 4450.
Immediate targets are 4725, 4944.
Disclosure: i hold the stock bought over last year. This is charted for my own benefit and part of my learning and investing process, i am a retail long term investor.
This is purely a technical chart observation, please check the fundamentals before investing.
Trade active
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Watchout for any breakdowns, as it retests the trendlines.
Trade active
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Careful as it is below the bottom trendline
Trade active
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Stoploss at 4450, exit if closes below this on daily timeframe
Trade closed: stop reached
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stoploss hit, need to study again for the next move
The above update is with reference to buy at breakout, I am personally not exiting the stock as i have bought last year, my long term stop-loss for hero motocorp is 4189. Its very important not to lose too much money, small loss for the stoploss will give you opportunity again..