dhruvchoula

Head & Shoulder Pattern | HERO MOTOCORP

Short
NSE:HEROMOTOCO   HERO MOTOCORP LTD
HEROMOTOCO has been forming H&S pattern on daily time frame.

Comments

that's support line, even if it gets breached it'd be false breakout......you know what instititutions want "liquidity". I can see lots of people getting trapped, also the obvious support and resistance level from the nearest price point are 2710 - 3052, still there are high chances of consilidation before a real breakout.
Reply
Highly doubtful that it will break..It's a weekly time and anytime it can take support at 2700 and move up..Another issue with this is that the shoulder's are not of the same height even though it is in the weekly timeframe. Had it been same, then I would have been more confident with this analysis..I see a pole and flag pattern taking support at 0.38 or 0.5 Fib levels . Having said that, let's see what happens..
Reply
it isn't a daily tf,it's weekly one..it can bounce back from here
Reply
looks good
Reply