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Stock Analysis of Hero MotoCorpPrice - 2847.20 Dt. - 22.09.2021 The stock was underperforming for the last few months and the stock is ready to resume the uptrend. Golden crossover is possible on the daily charts as well as weekly charts. RSI is above 50 and the auto sector has started showing the trend. Hero MotoCorp looks good for the short term. According to the company, they have more inventories than their peers and as Diwali is near the corner, it will help them to sell more 2W than competitors. If stock is above 2860 with good volume then it will be a buy signal.
NSE:HEROMOTOCOLong
by mr-sky
How to identify Breakout - Price ActionFor the purpose of demonstrating how one can identify a trend change using Support - Resistance and Price Action, I have taken the daily chart of IEX. I had also identified and posted about it before the recent rally. The first step is to establish a clear support and resistance line. In case of a breakout, I like to keep my target at around the same price difference range between old support and old resistance after it bounces from the resistance. The crucial thing lies in identifying the candlestick pattern around the support - resistance. In our case, when the price first hit the resistance, it formed a clear Bearish Engulfing and the next time, it formed a healthy dark cloud cover followed by an engulfing. These are clear red flags when a trader should start booking profits. Similair bullish patterns can be identified at support region like the Morning Star pattern as in the above chart. In order for the price to give a breakout, Volume & Momentum play a very crucial role. A rising volume with price rise builds momentum, and increases the chances of a breakout. Another important observation is to see HOW STRONG did the PRICE BOUNCE from the support. Long wicks, very less or almost no consolidation around the support and a bounce back from an area above the support instead of retracing all the way back to the support are clear indications of trend reversal from Bearish to Bullish. Also notice how the candle formed a Morning Star during the bounce, this further strengthens our conviction that the trend is changing. Observe how the red candles grow smaller and smaller as they approach support, this indicates weakening of the bearish momentum. Also the Resistance was approached in a very aggressive foray this time with clear long green candles indicating a very strong pent up demand. I hope this analysis provides some insight into how the Price action gives an early indication of the future price movement. Thanks for reading! Keep Learning :)
NSE:IEXEducation
by Aayush_Rungta
36
BREAKOUT AND RETRACMENT IN RELAXONSE:RELAXO Relaxo has shown us an excellent example of Breakout and retracement after it. It was consolidating in a Range and recently gave a Breakout. The volumes on the day of breakout were pretty attractive and high showing us that Heavy buying was done in it. A Good Candidate For swing Trading for 1-2 weeks of holding period. Risky Traders can Enter in it on CMP. But if the stock opens inside the Green Box then we would wait for Day Closing above it. It is Risky on CMP Due to some selling pressure in major Indices. Safe trader can Avoid or Enter if Day Closing is done above 1240. Targets - 1250-1280-1300-1320 Stoploss- Day Closing below 1140 NOTE - This Idea is Only for Educational Purpose, We would not be responsible for any Profit or loss So do your own research too.
NSE:RELAXOLong
by Arshad_Khatib