I believe in technical analysis and I have been astonished about the accuracy when used properly, this is one of those cases.
The Peak can be considered as Stoploss
technical lvl -- hero motocorp today low very crucial if hold abv thna looks 5000--5100 thna after son 5700++++++ or if trades blw 4870 or close blw 2 days thna game over in hero moto corp looks dwn 4830--4770+++++
Hero Moto Corp has broken cup and handle pattern. With all other parameters we can expect the first target of 3700. Other parameters:
1. Volume is rising
2. MACD is positive, above the line and making green histograms
3. RSI is above 60
"Clean Charts, Easy Charts"
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HEROMOTO FUT broke above descending channel on an hourly chart with good OI build up suggesting long build up also breaking past middle bollinger band.
Could be bought with mentioned stoploss & target.
HEROMOTO fut broke out triangle pattern with decent OI on an hourly charts.
Could be bought with mentioned stoploss & target.
Not to be missed breakout
As per Open interest Data and Technical Analysis Looks Like hero motocop will face Resistance near 3190-3210 Level and if its break then probably it will test 3350,3450 level in coming time but if its break 3120-3100 level the it will test 3050,3000 level in coming days.
Hedge Position can be executed
Buy 3140 CE Near 65-70 and Sell Heromotocop Future below...
Breakout on 15 min charts can buy Hero moto futures
Targets can be 2744/2775
Stop loss 2375
If you get at lower levels than it will be more better.
For educational purpose only.
I am just representing my views.
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.
