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Heromotocobuy

Where will Hero Motocorp head?Hero Motocorp is trading around the levels from where in can give either side move. The stock has retest the 61.8% fibonacci levels and after takin support from the level it retested and reversed from 50% level of the recent down swing. So the stock right now is trading around 3000 levels and has formed a gravestone doji after a big 7% bearish move last week. Though the stock is showing some bullish moving averages cross over and is coming to retest the moving average. After the tie up for supplying Harley Davidson bike the stock shooted up. The stock tried to consolidate around the recent high but couldn't hold the path and has given a fall from there. The stock on the daily time frame, is trading around the 20 ema and has consolidated near the higher levels of recent swing. Intraday, swing and positional all opportunities are there in this stock as the stock has closed near a support zone and has consolidated in a range for 4 days. If the stock breaches the swing low, a bearish trade can be initiated and continued with a trailing stop loss. The stock can give 1-2% move on the intraday levels and much more in positional trades. Entry 1 :- Below 2980 Target :- 2930, 2860(with trailing SL) Stoploss :- 2995 Entry 2 :- Above 3080 Target :- 3185 Stop loss :- Can be a close below 20/200 ema on hourly charts. The stock is somewhat on the lower range and there are much more chance of a bearish move. If the stock opening gap up avoid trading the stock for intraday as it can trade in a range. Trade only once the stock start trading outside the box. Wait for the price action near the levels before entering the trade.
NSE:HEROMOTOCO
by Mambotrade
Break down in HeroMoto.Hero Moto corp has given a break down of a triangular consolidation and also closed below its 20 DMA, Though, its taking support from its weekly 200 ema. Tomorrow, if the stock on an hourly time frame closes below 2774 levels, a short traded can be initaited. Targets :- 2735, 2692 Stop loss :- 2775 The markets are retracing and the stock if closes below 2730 tomorrow, it will break its weekly 20 ema and a swing trade for the month of October can give nice targets. Wait for the price action near the levels and on closes to closes basis the stock will give nice targets.
NSE:HEROMOTOCOShort
by Mambotrade
2
Hero Motocorp trading near moving averagesHero Motocorp on a weekly time frame is taking support from its 20 ema. The stock had closed between the two moving averages. For last 3 trading session the stock is trading in a narrow range and the moving averages on daily time frame has coincided. The levels for the stocks are marked on the chart itself. On smaller time frame, the price range is narrowing down and the stock can give a nice move on the either side. support :- 2555, 2525 Resistance :- 2614, 2645 Wait for the stock to break and close outside the box on a daily time frame. The trade can be a swing or intraday trade.
NSE:HEROMOTOCO
by Mambotrade
1
Heromotoco breakout + consolidationHeromotoco has been falling like a meteor in the past months and now looks to have made a bottom It has retraced 50% on the weekly timeframe. RSI is bullish but for now oversold so we might see some consolidation MACD is above the signal line. Bounced back of 50% fib level. Sitting on 200 MA cluster. Buy above - 2841 Targets mentioned in the chart above Please LIKE, COMMENT and SHARE to motivate and support me. I'll keep on posting new ideas on Indices & Stocks. Be sure to follow so that you don't miss any good trades that might have been rewarding. Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.
NSE:HEROMOTOCOLong
by this_is_shoaib