HEROMOTOCO- Relative Strength says BUY!

Attached: HEROMOTOCO/ NIFTY 50 Weekly Chart as of 28th April 2023

The above Ratio Chart also called a Relative Strength Chart shows that the Stock HEROMOTOCO is set to Outperform the Index Nifty 50 and has given a Buy Signal on this Ratio Chart based on Elliot Wave Theory

Wave 1/ A was a 5 wave Impulse
Ratio retraced to 0.786 in Wave 2/ B as a 3 wave Corrective
Wave 3/ C to the Upside is set to start/ has started already and this means the Stock is expected to Outperform the Market from here, making it a BUY as you always buy Outperformers because that is where the Strength is!

Note: The Stock has Earnings on 4th May, Thursday

Siddharth Bhansali

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