Heromotoco is a possible shorting opportunity for target of 2400 in coming days if broke below.
Heromoco is trying to break below 2530 short below 2530 till target of 2500
Hero Motor is moving in channel... It took some consolidation in channel Today it broke out the consolidation and started to move up... with day low as sl... Next stop, upside of the channel again ??? Time would say...
can hit 2900-3000 SL 2600
Buy HEROMOTOCO only above 2682 with Stop-loss at 2602 for first target of 2775. Idea is for 16th July 2020 onwards and I will update it if it is triggered or in case it is no longer valid. Logic is RSI hidden divergence
Hero Moto Corp share analysis
The weekly channel broke down but with failure and has been on an upward channel since March 2020. It might be worth buying with SL below channel close.
EWT analysis. Parallel Channel . My projection is mentioned on the chart. If breaks the channel change in trend will occure.
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.
* HEROMOTO CO. buy on CMP with stop loss-2400 and Target-4000. * Its made home pattern thats means safety.
A good 100 point pull back is likely in the next 5 to 7 days. Remember, as of now the trend is still up. This trade is only for those fast figures.
Sell half of quantity below 2727 and if sustains and breaks 2710 then add more quantity
Profit booking likely to hit max upside 2770-2850 , no fresh longs untill 2850 is broken and sustained. Happy trading .:) tip - dont go for complex charting , i repeat :)
On weekly charts it is exactly at long term resistance, could be a reversal point
HeroMotoCorp:: 2600 is a very Crucial level to be broken Buy above 2600 (Resistance Breakout) SL 2565 p.s : If 2600 isn't broken, Then Rising Wedge breakdown may lead to a fall ( just watch)