Hero Motocorp ltd: Analysis
Updated
Hero Motocorp is trading at breakout levels of 2890.20 in 1 hourly time frame, their is a high possibility of breaking out of this stock.
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Reason to buy for a weekly position:
1) Trend-line in the daily time frame is broken.
2) Triangular pattern breakout.
3) Upward momentum with good volume.
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Wait for price action then trade, current view bullish. Retracement Entry is suggested.
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Stoploss must be below swing low in hourly time frame or below the trend line i.e 2839.45.
.
Reason to buy for a weekly position:
1) Trend-line in the daily time frame is broken.
2) Triangular pattern breakout.
3) Upward momentum with good volume.
.
Wait for price action then trade, current view bullish. Retracement Entry is suggested.
.
Stoploss must be below swing low in hourly time frame or below the trend line i.e 2839.45.
Trade active
Acting as expected.Trade active
Profit in progress.
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