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....
Potential Opportunity as Swing Trade in NSE:HEROMOTOCO
If tomorrow price action form with green candle above previous green candle, then buy at top of the previous day & stoploss below to it.
Risk : Reward - 1:2
ENTRY @ 2832.00
TARGET # 1 @ 2930.00
TARGET # 2 @ 3015.00
STOP LOSS @ 2740.00
This is for Educational Purpose only, apply your prudence &...
Hero 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...
📈 Hero Moto 📉
My Findings :-
1. Breakout from a swing high and Resistance Zone.
2. Close above March high.
3. Higher High and Higher Low formation.
4. Auto Sector is in Uptrend.
Target- 2646, 2792, 2933 and 3057
RR- 1: 2
All Important Supports and Resistances are drawn in chart.
All levels are of Spot and on closing basis.
1) On 1day time frame, we can see it is near critical breakout level of 2600.
If it trades above it then we can aim for the resistance trendline as our target for positional buy trade and if it rejects from here then we can plan as per sell trade but not positional.
Please refer below chart : 1day time frame.
2) On 15min...
Heromotoco 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
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.
*We are not SEBI registered
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.
Whenever Stock is at 400DMA it has higher...