HeroMotoCorp- Reducing Volume & Crab can stop motor in 4250-4350 for NSE:HEROMOTOCO by AbhishekHSinghCMT

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HERO MOTOCORP LTD (NSE:HEROMOTOCO)

NSE:HEROMOTOCO HERO MOTOCORP LTD

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harmonicpatterns crabpattern tradingplan

First Long Above 4020 & Later Sell if faces resistance in 4250-4350 Zone.

A bearish crab "can" get completed in the zone 4250-4350. I never use incomplete harmonic pattern to predict as we never this will become true or fail but yes if at all it becomes true & moving above 4020 -If Hero Moto Corp Travels to 4250-4350 - One should be careful as we have reducing volume .
If It faces resistance then yes we look to sell in the range 4250-4350.

Aug 16

Trade active: 14:15 Hrs 16th Aug2017

Last Price@4040

Started moving above 4020 level- key level.

Aug 17

Trade active: 14:36 Hrs 17th Aug2017

Last Price@4014

If entered above 4020 & was taken for a ride to 3975 lows - time to exit close to entry price 4015-4020 & wait outside.

Aug 17

Comment: 15:29 Hrs 17th Aug2017

Last Price@3990

Sharp Fall to 3980.

Best Regards,
Abhishek H. Singh, CMT
Growth Director - India
http://in.tradingview.com
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Comments

I would prefer to buy future and short call as protection as caution .

AMBRISH

@AMBRISH, Likely, keep a watch above 4020 Highs.

AbhishekHSinghCMT

@AbhishekHSinghCMT, return from 4040 . How to manage these trades?

SatyamMishra

@SatyamMishra,What levels have you bought?

AbhishekHSinghCMT

@AbhishekHSinghCMT, 4018

SatyamMishra

@SatyamMishra, It seems that It could attempt again lows below 3975 once it starts going below 4000. Stops downside are big below 3800 so likely I will suggest to exit close to 4015-4020 & enter if you see support coming in 3940-3950 zone once you see that prices are holding downside next.

SatyamMishra

@SatyamMishra, Hi, I have even suggested you so many times that when you enter any trade - never allow price to go below your entry level which was 4018-4020 then why you did not trailed your stops to cost price which is always a requirement in trading. In that case, you will just have brokerage loss & you can get another chance later.

AbhishekHSinghCMT

@AbhishekHSinghCMT, exactly did that was out of trade at 4022 just cross checking that what I did was correct or not

SatyamMishra

@SatyamMishra, That is how you manage your risk. Trades can come & go but you should never remain in a call if it goes below your entry level. Next keep a watch if it falls to 3940-3950 holds & start mving upside that could be new entry zone.

AbhishekHSinghCMT

@AbhishekHSinghCMT, Left the ride.

thanks,