The Stock has been made a Bullish green candle at the end of the day, with a Good amount of volume. The next Target can be around 2820. Stoploss can be around 2635.
This is as per my analysis.
Happy Trading.
Currently, I am learning fundamental and technical analysis of the stocks. Please feel free to comment on the post, if I did any mistake in Analysis.
Watch out for breakout. if it shows weakness than sell it for the target around lower part of the wedge.
I am taking long side because i think it has spent enough time in congestion zone and ready to move higher.
****Disclaimer****
Trade with risk management but don't get afraid of taking risks because the winner is who bets as well as never gets short of...
HERO MOTOCORP LTD.
#HEROMOTOCO is moving in a narrow range and has formed an ascending channel.
RSI represents a strong uptrend.
TT2 Daily trend is Bullish.
Wait for the price to break out of the channel with volume. The next resistance on the chart is 2850 and support is 2400.
KEEP AN EYE!!
***in case of GAP opening, the given levels become invalid.
***this...
Clean BO of Weekly Down Trend Line. Look for Long Entry based on price action. Will update during the day when we may the entry in the trade.
Always used the RM for entry and exiting the trade.
Clean BO in Weekly TF. Look for Positional entry based on 75 TF or Daily TF.
Anyone following this, should use your RM for entry and exit. Will update the entry, SL and Entry price during the day for educational purposes.
Hero MotoCorp Ltd.
The stock is likely to face short term resistance from 100 SMA and the trendline at 2610-2640 zone.
Probable support comes at 50MA : 2365 as of now.
Technical parameters look Bullish as of now.
RSI is moving towards 60-level and is showing uptrend strength.
TT2 Weekly is BULLISH.
Further breakout to take place only above 2650 on a closing...
