HEROMOTOCO
Axis will land on 2013 trendline at 585Axis can go further down
Reasons for trade- 1. Axis is downtrend on daily as well as weekly chart
2.Support is formed at 640 on 4 hour chart
3.Price approaching towards the 2013 trendline
4.Rounding top patter is getting completed on daily chart
5.Risk Reward 1:2
Sell below 640 Stoploss 676 Target 600 Intraday 585 Positional
HEROMOTOCO Short Setup [Intraday]Please Consult Your Financial Advisor Before Taking Any Decision.
Educational Idea
NSE:HEROMOTOCO the drop formation in 1h sets up for a short position in the scrip.
Short at 2631.65 with SL 2649.50 and two multiple targets based on your RMS.
Note: Always risk 1% of account size per trade, adjust the position size accordingly.
MyAlgo : xMRSI-Progresser: Intraday : 17Oct-HEROMOTOCO-LongBased on my xMRSI-Progresser predictive trading methodologies, its going to be a GREEN candle on 17-Oct-2018 for HEROMOTOCO
Buy Above(5Min candle close): 2902.4 for targets -
T1: 2924.2
T2: 2937.2
T3: 2950.9
SL: 2879.2
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and please do your own research before attempting any. The profit/loss made by you due to this call, is solely your own responsibility. Thanks, All the best. Happy Trading. :-)