HEROMOTOCO trade ideas
Heromoto corp flag break downHeroMoto Corp is been witnessing selling since feb 2021,a clear under performance when compared with broader markets.
Monthly chart for long term counts
As per this count we are in super cycle wave 4,cycle wave b,primary b.
Countinuing to above count,on daily time frame we are in primary b,intermediate c,minor 3(might just begun once we get close below 2640)
Extention target of intermediate c are shown on charts,short trade can be taken if we get close below 2640 as it would indicate start of minor 3 also flag pattern break-out will be validated post 2640,hence initial stop-loss for this trade would be 2760(wave 2 peak along with 50 day ema)on closing basis,once trade is in the money SL should be trailed ever day to previous day's high,meaning on any day if get close above previous day's high then short trade should be covered.
This is positional trade hence time frame for this trade would be 1 month and hence initial stop loss is about 5% from current market price,one should size there trade in order to not lose more then 2% of there trading capital if stop-loss get's hit.
Disclaimer:This post is just for my future reference purpose,no trade should be taken solely on the basis of this analysis.
HEROMOTOCO LONGThe chart is self-explanatory.
Disclaimer: This is for demonstration and educational purposes only. This is not buying or selling recommendations.
HERO MOTOR CORPNSE: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.
#Heromotoco cash : Looks good above 2785.10#Heromotoco cash -Positional call
16.Nov 2021
Looks good above 2785.10
Stoploss at 2750
Target 2855-2860/2940
Cmp 2750.90
HEROMOTOCO: Ready for upmoveSelf explanatory.
Coming out of hidden pattern BO and making consolidation zone. Ready for a upmove.
HEROMOTOCORP - Looking good above 2650HEROMOTOCORP - Looking for for an up move above 2650. Could push higher further
HEROMOTO CORP : Investor can Accumulate from now onwardsStock is nearby Support Zone: Immediate Support : 2636 and Strong Support : 2582. It has been dragged from 3600 for long Consolidation. For Long Term Investor can Accumulate from now onwards based on strong business and good fundamentals
Note : EV vehicle and Premium Bike would be Key driver for the Growth as Fundamentals
Hero moto case studyHERO MOTO SPOT CMP 2675
HARMONIC STUDY
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 breakout and retest of falling trend line and now on verge to break above previous high levels, indicate bullish price action ahead.
Descending triangle pattern formation , having breakout confirmation above 2690 levels ,, which would lead to measured move of 90 points ,,
Trade type :- Swing
-Time horizon :- 7-10 trading sessions
Good long candidate.
Hero MotoCorp -Falling Wedge Break & RetestTargets:
Target 1: 2860
Target 2: 2950
Target 3: 3060
Target 4: 3200
Target 4: 3400
Buy on DIP after each Targets
Note: This is for educational Pirpose only.
HERO MOTOR COReasons to trade HeroMotoCo at this level
Support at this price level
Double bottom at RSI level 30
MACD Crossover like formation
Buy = 1x 25NOV2021 2680CE - ₹ 66.65
Sell = -2x 25NOV2021 2820CE - ₹ 28.5
Sell = -1x 25NOV2021 2500PE - ₹ 14.5
Disclaimer: This is for Educational purpose only, you can observe and learn this trade strategy and build confidence in your decision making while looking to enter in a potential trade on your own.
Don't take this as Trading advise, consult your financial advisor for any trading decision. We are not responsible for your profit/loss.
Hero Motor will ride UPHero Motor is good at this current support, Multiple times it tested the Support.
Bullish Harami - Big Bearish Candle at fist, followed by a small bullish candle at the middle.
It indicates that selling is over and there is a high probability of the Price going Upward.
RSI is 37.90 indicates Over Sold, So good chance for a reversal trend
Hero moto case studyHERO 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 formation is in form of falling contracting wedge.. time of flag formation was around 39 weeks.
In flag formation there was formation of double bottom pattern, with positive divergence on RSI and at same time RSI gave a retest of breakout of falling trend line.
After the retracement was over counter gave a upmove of 81% from the low of retracement zone,, time consideration in pole and final leg of upmove have relation of 1.2 time.
Current case Study :-
There was a first up move leg of 130% after that current retracement zone going on where counter have retraced 28% which is almost equal to historical case study. Now if history have to repeat counter can give up move of 81% from current bottom of this retracement zone.
In this current case study there is pole and flag pattern formation,, where the flag formation is in form of falling contracting wedge, time of flag formation is almost 36 weeks, almost same a historical case study, if it have to be 39 week which means still consolidation of 2 more weeks possible in counter after that breakout from the flag formation can be seen, as time of pole formation is different for both the case so in terms of percentage time it can give breakout any time now.
In flag formation there is formation of double bottom pattern, with positive divergence on RSI and at same time RSI gave a retest of breakout of falling trend line , perfect copy of historical case study.
so now as per this cyclic study if counter gives breakout from pole and falg formation and time cycle maturity it can give upmove of 81% from current levels which will lead counter to around 4800 levels. and approx time for this move would be till november of 2022 as per historical time calculation.
Harmonic Study :-
Butterfly pattern formation on weekly time frame
Pre assumption of Butterfly pattern lead us to following conculsion
Leg C of Butterfly pattern formation is on verge to mature and if the final leg D of the pattern unfold ,
Which as per theory should be 1.27% extention of Leg XA , would lead us to levels of 4800 levels .
So pattern maturity lies around levels of 4800 as per butterfly formation.
Conclusion :- Two case study as per price action , chart pattern formation, time cycle lead us to levels of 4800 levels and harmonic study also lead us to levels of 4800 levels,,
Counter can be considered as good investment candidate from current levels..
for targets of 3600-4200-4800
Trade type : Investment
Time horizon :- 12-15 months
Good investment candidate.
Hero Motor - LongStock looks likely to get good support @ 2600 region. I will go long @ 2700 with SL 2600 with initial target of 3000
Long Hero motoLong as 1st wave is ended and plus you can observe a Harami Candle structure also, so 3rd is starting now
Hero Moto Corp " RSI Bullish Divergence " Spotted - Update (2Hr)Category: RSI Oversold (Higher TF) + Retracement Zone
Key Highlights:
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 meant for learning purposes only. Invest your capital at your own risk.
Abhishek Singh (@Abhishek_TradersSin)
~ Middle-class IT Employee trying to simplify Technical Analysis .
~ Do follow and like if you like the work.
HEROMOTOCORP BOTTOMED OUTHeromotocorp has been in down trend from last few days and again we have spotted an opportunity for swing trading. it is forming a double bottom and can reverse from the CMP. Keep watch
Heromoto - Bullish RSI DivergenceNote: 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.
SL: 2600
HEROMOTOCOOnly 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 to buy, do your own studies these types of scenarios on regular basis, check how they works check the probabilities of price directions or price actions.
Thanks.
Disclaimer.
I am not a sebi registered analyst
My studies are for educational purpose only
Please consult your financial advisor before trading or investing
I am not responsible for any type of your profit s and losses
heromotocowait for breckdown or revarsal. rsi and volume indivcate revarsal if you take option trade check out my analysis i hope this is valuable for you.. if any mistakes please put in comment box.
thank you.
