Note: This is for educational purpose only. Please do not trade in F&O based on this analysis.
There seems to be a bullish hammer on the previous support. While the price is at the same level from previous support, the RSI is making a higher low.
Hero Motorcorp is at an important demand zone. If the price bounces off of this zone, then consider taking a long position.
However, due to bad results if the price manages to slip below the demand zone, then open a short position.
The XABCD Bat pattern is already activated, if the price manages to stay above the demand zone, then we could see target B...
From 2636 (a or i) and (b or ii) is completed at 2954 and 2781 respectively. From 2781 (c or iii) may be started and minimum projection range is coming at 3099-3175 which can be achieved in coming days.
2844 is good support. If breaks 2844 then may consolidate between 2844-2750.
HEROMOTOCO looking good for short term after giving breakout.
It can be bought around 2920 to 2930.
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This is only for educational purpose.
Please consult your advisor before making any trade or investment
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.
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.
It is on critical range 2040-2050.
I have given levels and target for safe trade. Otherwise you can use either of these levels to take trade on either side considering how price action is working in particular day near those levels.
Do comment if you have any doubt/suggestion.
I have mentioned 10 points targets only to keep the trade safe...
HEROMOTOCO given good upside breakout upper the triangle channel. cam move towards upper FIBO LEVELS (MENTIONED IN CHARTS) in coming days.
View Negates below 3017 levels.
Must have this in watch-list for coming days.
Heromoto has formed head and shoulder pattern, then taken support at base.
Now it is forming ABCD pattern, which might lead it to higher levels 3240 plus to ATH. SL and target levels are placed in Chart.