Lower high, lower low. Trend is down. Confirmed by price ruling below 200 DMA. Now price is at long term support zone. Technical correction on the upside is possible. Else a breakdown from the present level taking price to new lows.
The stock did not take part during the present bullish trend.
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
HERO MOTOCORP - Looking bullish on 4hr & Daily chart, it has given trend line breakout and still consolidating above trend line. Further upside movement is expected, if price manage to trade above its trend line.
BUY @ 2830
TARGET 1 @2950
TARGET 2 @ 3100
STOP LOSS @ 2700
Hero MotoCorp Ltd (HROM) : Looks good to LONG @ 2729.20 - 2754.45
STOPLOSS : 2630
TARGETS : 2766.55 - 2792.95 - 2846.05 - 2859.40 - 2872.80 - 2899.65 - 2913.10 - 2926.60 - 2953.75
ABOVE 2968.35 It can also test : 2980.95 - 3008.30 - 3022 ( short term targets )
DISCLAIMER : I am not SEBI Registered.
This #view is for study purpose.
Consult your Advisor,...