Hero motor is forming dark cloud cover in the short term (intraday) and has lot of downside in the weekly time frame.
Hero at CMP of 2650 has a lot of downside, given the steel excise-duty (news driven) rally after it's poor quarterly results.
Both their topline and bottom line were hit.
People are not buying hero motor bike; 24% decline in sales.
Looks good for a quick option.
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
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