--> Market Analysis: Bulish
--> Sector Analysis : Neutral To Bullish
--> Stock Analysis : On The Chart
Heromotocorp Is Forming A Good Inverted Head And Shoulder Pattern And Has Retested It Multiple Times With A Retest From The 0.382 Fibonacci Ratio
Once It Crosses 200 Ema It Will Be Bullish For The Targets Of 3300+
Keep Stoploss If It Breaks 0.618...
Hero Moto breaking out of trend line with above Avg Volume.
Once it closes above previous swing high of 2870 the BO will be confirmed
RSI also above 50 after a long time
Can go long with SL below 2680 on closing basis
Do your own analysis before investing
HEROMOTOCO Will Take Support From 2525-60.
I Will Be Ready To Buy At These Levels. Will Keep A Distance As Of Now. If Any Lower High Is Taken Out, Will Be Alert For Us.
Till Then Find Shorting Opportunity Based On Price Action.
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.
1) On Daily Time Frame, It breakdown 400 DMA 1st time on 29 July and from the next day stock reverses.
Yesterday, it closed below 400DMA but today it reverse with powerful candle and closed above 400DMA with good power and volume.
Please refer Chart below: Daily time frame.
Hero - Cmp 2782.60
Looks good at cmp for long position with 2710 stop loss on closing basis for initial target of 2980-3030.
1. Bullish divergence
2. Near support area
3. Favorable risk reward ratio.
Hero spot cmp 2820
Time frame :- daily
Study :-chart pattern, harmonic
Symmetrical triangle breakout and bullish bat pattern formation with bullish crossover in MACD. breakout on rsi
Good bullish formation
Can give 10 to15% upmove from current levels...