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.

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