hero
**Chart Overview:**
**Stock:** Hero MotoCorp Ltd. (NSE: HEROMOTOCO).
- **Indicators:**
**EMA (Exponential Moving Average)**:
- 9-period EMA: \(5,759.37\)
21-period EMA: \(5,618.91\)
- 50-period EMA: \(5,472.63\)
**200-period SMA (Simple Moving Average):** \(4,788.98\)
**Volumes**: Shown below the price chart, indicating trading activity.
**Highlighted Levels:**
**18th June 2024**: The price touched a resistance level, as indicated by the orange circle. The price struggled to break through that level.
**10th September 2024**: Again, the price tested this resistance level and initially rejected it but managed to make a new attempt to break above in the current phase.
The **horizontal line** shows the resistance level around \(5,860 - 5,961\), which the price is trying to break.
**Analysis of Last Three Candles:**
1. **Candle 1 (Two days ago)**:
**Small Body, Small Wicks**: Indicates a **doji**-like candle, showing indecision in the market as the price consolidates at the resistance level.
**Volume**: Low volume during this session could suggest a lack of strong conviction from buyers or sellers.
2. **Candle 2 (Yesterday)**:
**Green Candle**: Indicates a bullish move, as the closing price was higher than the opening price.
**Medium Wick on Top**: Suggests some selling pressure near the end of the session, with buyers unable to close at the day’s high.
**Volume**: Increasing volume compared to the prior session, signaling growing interest from buyers as the stock tries to break resistance.
3. **Candle 3 (Today)**:
**Strong Green Candle**: This is a large bullish candle with little to no wick on top, signaling that buyers were in full control throughout the day, pushing the price significantly higher.
**Volume**: High volume compared to previous days, confirming the bullish momentum and increasing the likelihood of a breakout above the resistance level.
**Conclusion from Last Three Candles:**
The stock has made two attempts (June and September) to break the resistance level around \(5,860 - 5,961\), and the third candle (today) shows a strong breakout attempt with substantial volume. This indicates that the stock might be gaining bullish momentum and could sustain a breakout if buying pressure continues.
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