HeroMoto Corp is been witnessing selling since feb 2021,a clear under performance when compared with broader markets.
Monthly chart for long term counts
As per this count we are in super cycle wave 4,cycle wave b,primary b.
Countinuing to above count,on daily time frame we are in primary b,intermediate c,minor 3(might just begun once we get close below 2640)
Extention target of intermediate c are shown on charts,short trade can be taken if we get close below 2640 as it would indicate start of minor 3 also flag pattern break-out will be validated post 2640,hence initial stop-loss for this trade would be 2760(wave 2 peak along with 50 day ema)on closing basis,once trade is in the money SL should be trailed ever day to previous day's high,meaning on any day if get close above previous day's high then short trade should be covered.
This is positional trade hence time frame for this trade would be 1 month and hence initial stop loss is about 5% from current market price,one should size there trade in order to not lose more then 2% of there trading capital if stop-loss get's hit.
Disclaimer:This post is just for my future reference purpose,no trade should be taken solely on the basis of this analysis.
Monthly chart for long term counts
As per this count we are in super cycle wave 4,cycle wave b,primary b.
Countinuing to above count,on daily time frame we are in primary b,intermediate c,minor 3(might just begun once we get close below 2640)
Extention target of intermediate c are shown on charts,short trade can be taken if we get close below 2640 as it would indicate start of minor 3 also flag pattern break-out will be validated post 2640,hence initial stop-loss for this trade would be 2760(wave 2 peak along with 50 day ema)on closing basis,once trade is in the money SL should be trailed ever day to previous day's high,meaning on any day if get close above previous day's high then short trade should be covered.
This is positional trade hence time frame for this trade would be 1 month and hence initial stop loss is about 5% from current market price,one should size there trade in order to not lose more then 2% of there trading capital if stop-loss get's hit.
Disclaimer:This post is just for my future reference purpose,no trade should be taken solely on the basis of this analysis.
Trade active:
2640 is broken intraday so trade is active as of now,if we get close below 2640 trade can be carried forward