NileshChavan

Heromoto more selling on cards

Short
NSE:HEROMOTOCO   HERO MOTOCORP LTD
Hero Moto can go more down as market is also indication more downside.
Reasons For Trade-1. Descending Triangle pattern formed on Hourly Chart
2. Price has resisted from trendline Resistance
3. Bearish candlstick pattern formed on daily chart
4.Rounding top forming on 4 Hour chart.
5.Price once breaked support of 2530 which is weak now.
6. Risk Reward-1:2
Sell below 2540 Stoploss 2581 Target 2475 Intraday 2355 Positional
Trade active
Trade closed: stop reached