Heromotocorp
HEROMOTOCO SHORTHEROMOTOCORP looking good shorting candidate. Yesterday it gave breakdown of trendline but there was a neckline support of head and shoulders pattern so waited for it to break and today gave breakdown of it too. Now we are looking for a trendline and head and shoulders breakdown with good volumes. Plus for confirmation we've got macd and 9/21 crossover, also rsi below 40.
BuyBuy abv 3486 sl 3400 on daily closing basis or 3365 on 15 min closing basis for target of 3800+ . Volume has dropped in last 3 candles and spread has become narrower.20 DEMA should act as support. All the price action is happening within the large bullish candle which is a king of consolidation before start of next upmove.
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Hero Motor_22% Profit PotentialDate: 03 Feb 2021
Time: 2.15 PM (IST)
Hero Motor Corp. (CMP: 3380)
Ascending Triangle Pattern formation. Rising RSI from the 50 levels boosts the confidence.
Medium term investment view. Buy above 3,400, for a profit potential of 22%+.
Target 4160
SL: 3000
Target Date: August 2021.
HeroMotors - Breaks the ResistancePrice closed above the resistance for the week as expected. Now it should fly big or a retest of the breakout level is also possible.
One can enter at the retest if it happens . . if conservative then one can enter when this current high is broken after the retest.
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Hero Motocorp breakout from symmetrical triangleHero Motocorp has given a breakout in 2H time-frame from a symmetrical triangle pattern that too with decent volumes in daily chart. Also the daily candle formed in the chart seems like a Bullish Marubozu (with slight approximation). All these signals are indicating that 3350 seems to be in card and might act as the next resistance.
Disclaimer: - These views are for educational purpose only and not a recommendation.