currently the structure in itself looks extremely strong , minir ups and downs neglecting in intraday ! the stock according to me is set for a one way rally of 4/5 % + in coming days !
bullish on the stock , for a considerable upside lets see !
HERO MOTO CORP is at support level after fall from higher levels. Accumulate and add more on dips.
Short HEROMOTOCO between 3800-3775 T1: 3725 T2: 3675 SL: 3850
HEROMOTOCO is moving in an up channel for long and an uptrend since 2013 Currently on its median, awaiting a breakdown/reversal.
Ascending Channel on Heromoto and it broken the channel. Trade: Short Entry - 3880 Target - 3800 Stop loss - 3930
HEROMOTOCO broke out of the channel and is retesting the sup/resistance line for a bounce back ore breakdown.
HEROMOTOCO gave a nice breakout after the result. Now it has retested the resistance turned support level and reversed for a possible leg up, as long as it holds above sup_level It can slam down the reversal_zone to retest the mini trendline Top Green level still remains a good Breakout/Reversal zone
Heromotoco has given breakout from Flag formation after being in a range for about 2 months. With this it is likely to touch 4200-4250 levels. Stop Loss should be closing below 3750 levels.
If bounced off and closes above 3250 is a good sign otherwise, sell if closes below 3175
As per the multi year bollinger chart, in early 2014 price bounced off the support line (averages) and went on to reach new highs in long term. Same scenario happened very recently and I'm very bullish with at least 3700 target in long run.