Hero Motocorp breakout from symmetrical triangle

Jan 8, 2021

Hero Motocorp has given a breakout in 2H time-frame from a symmetrical triangle pattern that too with decent volumes in daily chart. Also the daily candle formed in the chart seems like a Bullish Marubozu (with slight approximation). All these signals are indicating that 3350 seems to be in card and might act as the next resistance.

Disclaimer: - These views are for educational purpose only and not a recommendation.

Jan 12, 2021

Note

Hero Motocorp has touched a high of 3295, since the rise was very steep it might consolidate near 3250 level before moving towards 3350 level.

Jan 13, 2021

Trade closed: target reached

Although target reached today but Hero Motocorp has given another breakout in a symmetrical triangle pattern in daily time frame for targets of 3780 and maybe further higher. It might consolidate below 3380 for few days as there is a resistance zone between 3350-3380. But after it move past that level 3750+ is the next target. View still bullish for swing traders.