HERO MOTOCORP | Can a technical bounce back be seen ?!
14.05.2019 | Views
1) RSI Positive Divergence seen in daily frame
2) Trendline support Consolidation seen
Max CE OI @ 2600 & Max PE OI @ 2400
CE OI unwinding seen in 2600 CE & above strike prices.
Can the stock move up to 2650+ in May 2019 ?
Note:
I am a Learner & started practicing chart reading.
Experts can correct me if there is different opinion.
1) RSI Positive Divergence seen in daily frame
2) Trendline support Consolidation seen
Max CE OI @ 2600 & Max PE OI @ 2400
CE OI unwinding seen in 2600 CE & above strike prices.
Can the stock move up to 2650+ in May 2019 ?
Note:
I am a Learner & started practicing chart reading.
Experts can correct me if there is different opinion.
Trade active
17.05.2019 | Updates:2630+ so far.. Our estimated target is 2650+
Channel Resistance @2680-2700.
If price crosses channel resistance - then it can blast.. But will USDINR support is a big question for crossing resistance !
Trade active
1st target : 2650 achieved.channel resistance 2700 crossed & trading at 2800+ level..
2900 can be short term profit booking level in F&O.
Investors for mid term /long term can derisk with half qty (50% of holding) profit booking & continue holding rest for fresh breakout above 2900.
Trade closed: target reached
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