Cup & Handle on HeromotocorpTF: 15 min
Pattern: Cup and Handle
Height of Cup: 90 points (considering cup base at 2960)
Height of Handle: 30 points (ideally should be between 35-50% of cup height).
Target on breakout: 90 points from CMP (equal to height of cup)
Waiting for breakout from CMP (3050) which is also a long time supply zone.
+ve RSI divergence observed which indicates bias towards upmove in coming session.
HEROMOTOCO
#ASHOKLEY CMP 128.40 #Target 157(20%+) #MARUTI #TATAMOTORS #ITC#ASHOKLEY
NSE: ASHOKLEY
CMP 128.40
Target 1: 139
Target 2: 157
SL 120
RR Ratio > 3
Time Frame < 45D
CAN HOLD ABOVE 157 for 170 target! Book part profits!
Factors:
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
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HEROMOTOCO - Channel patternNSE:HEROMOTOCO
Hero Motocorp is in a channel pattern since October 2020 in daily TF.
Go long after a bullish candle above 3420 :
Target 1 - 3620. Target 2 - 3710.
Stop Loss - 3225
Looks weak below 3195 :
Target 1 - 2990. Target 2 - 2840.
Stop Loss - 3355
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HEROMOTOCO back at its strong support , Had a good fall may riseI will buy HEROMOTOCO because :
It has been taking support at the trend line .
It has been consolidating and give big move soon.
So will be looking at buying opportunities.
If it breaks the support look at shorting
Entry : 2956
Target : 3500/3580
Stop loss : 2778
Hero Motor_22% Profit PotentialDate: 03 Feb 2021
Time: 2.15 PM (IST)
Hero Motor Corp. (CMP: 3380)
Ascending Triangle Pattern formation. Rising RSI from the 50 levels boosts the confidence.
Medium term investment view. Buy above 3,400, for a profit potential of 22%+.
Target 4160
SL: 3000
Target Date: August 2021.
HEROMOTOCO may fall even further in the coming daysIt seems like #HEROMOTOCO is heading for further South..!
If it manages to stay below 3058, there is a good possibility that we may see a the price crash below 3000/2900/2800 soon
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HEROMOTOCO LOOK OUT FOR THESE LEVELS!!! ALL THE LEVELS ARE MARKED ON CHART, RED ZONES DENOTES SUPPLY ZONES AND GREEN IS FOR DEMAND ZONE.
PRICE LOOKS WEAK, RECEIVING GOOD RESISTANCE FROM FIBO 0.5 LEVEL
SELL NEAR 3015 LEVEL 3030 WILL ACT AS A GOOD RESISTANCE AND NEEDS TO BE BROKEN BY VOLUME.
BUY ONLY IF A REVERSAL CANDLE IS FORMED NEAR/ON THE DEMAND ZONE - GREEN.
IF THE DEMAND ZONE IS BROKEN WITH VOLUME: SELL BELOW 2850, BE CAUTIONS WHEN PRICE IS NEAR 2800 LEVEL
The indicator used:
1) Daily Lines plots Daily 20 & 50 EMA on lower time frame charts
2) TE-REKAB
3) VOLUME - RED ( BEARISH VOLUME )
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The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :)
HAPPY TRADING!!
HERO MOTOCORP A retracement rally.HERO MOTO CORP A retracement rally.
Currently in a downtrend, retraced and may continue to drop.
The nearest support is 2860, on the upside resistance is around 3000
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Updated on : 27-Oct-2020 12.00pm
Disclaimer: Only for learning purposes.
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