Heromotoco - Breakout ?
Updated
Hero broke out of its long term bullish channel on the account of Rs. 25 Dividend - so a price correction was only expected.
The breakout may well be a rejection like we have seen earlier and it took a sharp pullback from 200 HEMA which has acted as a support on all previous breaks from the channel.
Positional ideas: (I will wait for confirmation with a close above/below on the 15 min candle)
Short below 2640
Long above 2700
The breakout may well be a rejection like we have seen earlier and it took a sharp pullback from 200 HEMA which has acted as a support on all previous breaks from the channel.
Positional ideas: (I will wait for confirmation with a close above/below on the 15 min candle)
Short below 2640
Long above 2700
Trade active
Trade closed: target reached
Trailing SL hit at 2740
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