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HERO MOTOCORP LTD.

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HEROMOTOCO trade ideas

Bullish Engulfing PatternA bullish engulfing pattern is a candlestick pattern that forms when a small black candlestick is followed the next day by a large white candlestick, the body of which completely overlaps or engulfs the body of the previous day’s candlestick. Bullish engulfing patterns are more likely to signal reversals when they are preceded by four or more black candlesticks. Investors should look not only to the two candlesticks which form the bullish engulfing pattern but also to the preceding candlesticks. Script = HeroMotocorp Time Frame = 1 Day
NSE:HEROMOTOCOLong
by Jainshashwat
Hammer PatternHammer candlesticks typically occur after a price decline. They have a small real body and a long lower shadow. The hammer candlestick occurs when sellers enter the market during a price decline. By the time of market close, buyers absorb selling pressure and push the market price near the opening price. The close can be above or below the opening price, although the close should be near the open for the real body of the candlestick to remain small. The lower shadow should be at least two times the height of the real body. Hammer candlesticks indicate a potential price reversal to the upside. The price must start moving up following the hammer; this is called confirmation. Script = HeroMoto Corp Time Frame = 1 Day
NSE:HEROMOTOCOLong
by Jainshashwat
Inverted Hammer The Inverted Hammer also forms in a downtrend and represents a likely trend reversal or support. It’s identical to the Hammer except for the longer upper shadow, which indicates buying pressure after the opening price. This is followed by considerable selling pressure, which wasn’t enough to bring the price down below its opening value. Again, bullish confirmation is required, and it can come in the form of a long hollow candlestick or a gap up, accompanied by a heavy trading volume. Script = HeroMoto Corp Time Frame = 1 Day
NSE:HEROMOTOCOLong
by Jainshashwat
Inverted HammerThe Inverted Hammer also forms in a downtrend and represents a likely trend reversal or support. It’s identical to the Hammer except for the longer upper shadow, which indicates buying pressure after the opening price. This is followed by considerable selling pressure, which wasn’t enough to bring the price down below its opening value. Again, bullish confirmation is required, and it can come in the form of a long hollow candlestick or a gap up, accompanied by a heavy trading volume. Script = HeroMoto Corp Time Frame = 1 Day
NSE:HEROMOTOCOLong
by Jainshashwat
HEROMOTOCO Ready for Bulls Ride ??!!!!Chart patterns convincing me to post the above titled opinion REASONS 1. HEROMOTOCO has been trading inside a Expanding Triangular Pattern by Taking support & resistance at respective levels 2. Currently, it is going through the up swing move inside the pattern 3. 2022 November Monthly candle seems to be an INDICATION for RACING BULLS ARRIVAL(with high tested) 4. No other Auto stock gave such a Bullish November candle 5. The same November candle broke and closed above the WHITE trendline with Volume SUPPORT!!! 6. Inverted Head & Shoulders pattern formed, Same November candle seems to be the breakout candle again!!! 7. Big move can be expected in the coming days.... (Probability looks more for the upside!!) 8. Target & SL levels mentioned @ chart 9. HEROMOTOCO composes 5.97% WIEGHTAGE in NiftyAuto index and 0.47% in Nifty50 index !!! Monthly chart close look below DAILY TIME FRAME BELOW Let's wait and watch how it moves!!!! Note - Just sharing my view....not a tip nor advice!!!!
NSE:HEROMOTOCOLong
by mmjimm