HERO MOTOCORP LTD

NSE

HEROMOTOCO

Hero MotoCorp has been in down trend for the last couple of years. It has been consolidating at a strong support zone forming a wedge over the last 4 months. The wedge is now broken. It is certainly worth confirming the breakout is sustainable and then join the LONG ride!

Instruction Given in Chart.

It is looking like a failed breakout so far... if it breaks below 2635 go short with stops at 2740 for it to tag the lower end of the channel again.

SL: 2590 - Tg: 26-25-35-2650

14.05.2019 | Views 1) RSI Positive Divergence seen in daily frame 2) Trendline support Consolidation seen Max CE OI @ 2600 & Max PE OI @ 2400 CE OI unwinding seen in 2600 CE & above strike prices. Can the stock move up to 2650+ in May 2019 ? Note: I am a Learner & started practicing chart reading. Experts can correct me if there is different opinion.

the stock is in downtrend

SHORT HERO TRG 2655

One can look for Buying Futures on brake of Friday high and its moving towards 2825 book near the forecast

Levels mentioned in charts ...

If it breaks the lower support & Sustain, possible targets are mentioned in the charts.. And ADX is in strong selling mode. If everything goes well as per our prediction, will get 100+points.. All the Best.. Have a Profitable Trade.. Thanks, Chandru

Buy Hero Honda at cmp 2501 stop loss 2450 TGT 1 - 2590 , TGT 2 - 2700

Conditional Sell: If it will sustain below 2495 - SL: 2520 Tg: 2450

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Bullish Bat - HeroMotoCo - 4h PRZ: 2489-2498 SL: 2474 TGT: 2508, 2520 08-05-2019

Hero Moto is standing at trend line support of 2450-2460. It has still not come out of downward momentum but 2460-2470 can be used to initiate a risky buy position with stop loss 2410 for 2700. Overall 1st sign of reversal will be seen only above 2595 and 2nd above 2760. If it doesn't come to 2460 and before that move past 2595 then buy with stop loss of 2540...

Support at sustainable growth levels.

....Levels mentioned in the chart

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