raj_rishav

Heromotoco - Breakout ?

NSE:HEROMOTOCO   HERO MOTOCORP LTD
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
Trade active
Trade closed: target reached: Trailing SL hit at 2740

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