HEROMOTOCO is at the channel support on daily TF. Very good risk to reward ratio. 1:3 with 2% risk and 6% target. By Fibonacci retracement of 0.5 level target=3275 stoploss=3045
The key levels to watch out are mentioned in the video. Trade as per the levels mentioned after finding a suitable candle patterns at support and resistance levels.
For the accurate levels, Follow me on trading view and Insert this indicator from library or from my profile under Scripts.
Happy trading.
There are 3 reasons why I chose this stock for shorting:
1 - Rounding Bottom
2 - Stock has broken long term Trendline
3 - Resting right on support zone
If tomorrow breaks 3000 then target 2900/2800 levels for swing.
For Intraday can book profit in 1%
HEROMOTOCORP 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.
Buy Hero Motor Futures in the levels 3238-3100, Stop Loss as per your risk profile/RMS Policy. Target zones 3405-3573. Less Risky Trades can buy March 3400 CE.
