Where will Hero Motocorp head to ?
• Bullish Bat Harmonic Pattern formation is seen
• RSI/MACD are ready for up move, yet to confirm
• Price is way below 13,50 and 200 EMA
• Recent swing low matched with earlier lower low (important level for support)
What can happen next :
Scenario 1 : Price can move up to complete bullish bat harmonic pattern...
Only for Educational purpose.
This stock is right now in good area where buying could be initiated, but its not confirmed yet, if any type of bullish candle pattern is seen in lower time frame like hourly then it could be an opportunity to go long after checking all parameters are aligned or not for trade, with stop loss of same candle's low, don't jump directly...
NSE:HEROMOTOCO is good fundamental company.
on a daily time frame stock is making rounding pattern, and taking very strong support from the 2640 level.
and also making double bottom at the downtrend
one can add this stock for short term target of 2951.
HERO MOTO SPOT 2675
HARMONIC + PRICE ACTION + CHART PATTERN + TIME CYCLE + HISTORICAL CYCLIC STUDY
TIME FRAME :- WEEKLY
We have considered historical case study, where counter gave a upmove of around 128% after that there was a retracement of 30% and finally a up-move of 81%
In this historical case we have considered pole and flag pattern formation,, where flag...
HERO MOTO SPOT CMP 2675
TIME FRAME :- HOURLY
Bullish Bat pattern formation on hourly time frame.
PRZ in range 2670-2640
Reversal confirmation above 2730
pattern violation below 2600 levels
Upside retracement levels of 2780-2815 possible
Triple bullish divergence on RSI where price made lower low 3 time and RSI made higher lows
RSI have given...
Category: RSI Oversold (Higher TF) + Retracement Zone
1. Bullish market structure on RSI Bullish Divergence
2. Price taking support from one of the key support levels.
3. A lot of things are going on in the backend of the company in EV Transformation and is set to pickup in some time.
Disclaimer: This is NOT investment advice. This chart is...
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.
As you can see in the chart there is a strong resistance of 2930,
In previous trading days stock made head & shoulder pattern and then gave the breakout now again,
Stock is making head & shoulder so in this condition there is two probability that can happen in this trade.
1. Share tested three time 2930 levels, now it can be possible that in the next time...
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