Heromotoco is trading in a parallel channel.
It has already taken its resistance and follow down price, this stock is bearish. It is still expected to move further down till 2586.
The low volume is telling that the stock will continue to move in its direction or there will be a price rotation and less fluctuation.
Though if the price cross 2712, stock will be bullish.
Signal's of confirmation :-
1. Wedge pattern
2. Shooting star candle
3.All time high
Buyers are facing rejection in the price hence we might see a retrenchment Till the support.
This is my view and now lets hope for the best!!!
Bharti airtel will attempt to take a strong support around 414-415 levels.
If the resistance is broken, then the down side could be huge and profitable.
Sell below 414. Target at 388. Stop loss at 427.
Indian Oil Corp. To break before 74. It has a strong support at 74.40 and if it breaks, it would have successfully broken the support after multiple tries.
Sell below 74. Target at 70. Stop loss at 76.
SBI formed an evening start after an uptrend and is likely to fall till the next strong resistance.
Initiate short calls.
Sell at 193.5. Target at next resistance, ie, 182. Stop loss at 50 DMA, ie, 197.
NOTE: Supreme court to have a hearing on the interest waiver case. NSE:SBIN