19/4 educational purpose only
sell at around 2300 / 2315 (20ma/hourly is at 2312.45)
sl above 2350 (50ma/hourly is at 2336)
targets around 2150 and lower if this support is broken (the pattern is a bearish ascending triangle with support zone between 2151 & 2154.80 so we may witness a big fall if this zone is breached on the downside)
*trend on daily chart is...
#HEROMOTOR trading 2256 formed bearish pattern,
yesterday trading our retracement level,
we can BUY above 2258 and tgt for 2280,
positional tgt 2303 and
follow SL 2235 closing basis
Inverted head & shoulder pattern spotted in Heromoto. Clear cut consolidation around the neckline. Once it breaks it with volume one can look for an upside target of 3000+ in short term
Hero moto is taking a good support at 2870-2880 levels & we can see a double bottom formation.
From here its looking Bullish as we can see now it is going to crossover 200 EMA as well.
I think 3050-3100 levels can be seen easily in July expiry. Volume profiles suggest a good buying levels from here.
Weekly charts show a rounding bottom and multiple attempts to break 3000 have been made.
Money Flow Index is turning positive, and on daily chart Trend line and immediate resistance of 3000 are coinciding . Also a long consolidation range might break with a closing above 3000. Also, 200 DEMA is at 2985 levels, which will indicate first bullish sign.
Next...
Buy Hero Motor Futures in the levels 3238-3100, Stop Loss as per your risk profile/RMS Policy. Target zones 3405-3573. Less Risky Trades can buy March 3400 CE.
