Hero Motocorp after its long term uptrend journey broke at 3700.00, it seems to have turned bearish and trading touching down trend line resistance also retraced up to two fibo extensions now approaching to crucial 50% extension of fibo where we can see some change in this stock, trader may go short on this stock after a slight upward movement around 3370.00 and...
It is been observed that the price action forming a bullish ABCD pattern, indicating further move up. It has retraced to 23.6% levels and now it shall further move up to 38.2% levels.
Target: 3482
Stoploss: 3375
HEROMOTO Looking small up till 3520 maximum according to my chart so sell heromoto at opening sl at 3520 and target 3400-3350-3300 (sell near 3460-500)
Heromoto is testing the resistance at 38.2% retracement levels.
Also it has broken the upward channel
Go short at the current levels for a target of 3395 which was the recent low.
Target = 3395
SL = 3526
