tanaynaff15

Looks like Hero has bottomed out.

Long
NSE:HEROMOTOCO   HERO MOTOCORP LTD
Hero looks very attractive at these levels. Fundamentally sound company giving us a good price action to go long on this stock.

This a set up I will prefer. Why? Because even if this goes wrong I won't feel bad. A very small SL of 63 points (2700 or 2713).

Another indicator confirmation - Bullish divergence on a Daily timeframe . This is a weekly chart.

Comments

Many are seeing H&S in weekly pattern and going short even though the shoulders are not of same height..However they should know that it's a weekly chart pattern. Most of the time stock reverses in such larger time frames.Also company fundamentals and valuation are in line..So any further dip should be seen as a buying opportunity and not selling. I am confidently going long on this stock. Let's see what happens.
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