srikartiram

HEROMOTOCO | Can see some short covering ahead of result - 25%+

Long
NSE:HEROMOTOCO   HERO MOTOCORP LTD
HEROMOTOCO | Can see some short covering ahead of result - 25% to 40%

CMP : 2910
SL : 2750
Target : 3600, 3800

1:6 risk reward setup for 1st target

Comments

hi, now since this stock is consistantly trading below the support zone and auto index not performing well, what are your views in respect to a breakdown in this counter?
+1 Reply
srikartiram Thunder918
@Thunder918, Its still worth the bet, please see the daily time frame chart attached

I expect some short covering as soon as possible.

https://s3.tradingview.com/snapshots/v/Vz1zo3Ie.png
Reply
Thunder918 srikartiram
@srikartiram, sahi... thanks ...
+1 Reply
jaspreets8 Thunder918
@Thunder918, Also you can see bullish engulfing candle on 22nd April 2021. A good sign for reversal
+2 Reply
Agreed, perfect setup. even the oscillator is showing divergence..would go for a sweet call option
+1 Reply
I have few shares at an average of 2879. Is it advisable to average at CMP (around 2840 levels).? Or wait for further dips?
Reply
great setup..thanks
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nice sharing idea👌👍
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