Is Hero MotoCorp Set for a Bullish Turn..?HERO MOTO CORP has experienced a significant decline of approximately 24% from its all-time high. This downward trend has been marked by a clear trendline that, as of late, has been broken, indicating a potential shift in market momentum. Additionally, a failed breakout was observed at the support level around 4920, which could enhance the likelihood of a rebound or upward movement in the near future.
It's important to note that the company's quarterly earnings report is scheduled for November 4. This upcoming announcement could be critical in influencing market sentiment and should be carefully considered before making any trading decisions.
Heromotocorp
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.
#Heromoto 4th time tested 4950, above 4955 fatega kya?Heromoto since Feb'24 4th time has tested the fib resistance of 4954.A day close above 4954 can take this stock towards 1) 510 2)5177 3)5329 4)5473, below 4632 will be exit for me. Since my indicator is also not giving any negative signs, I have high hopes from this setup. Only thing is weakness in overall market can affect it. Lets see
#HERO/USDT#HERO
The price is moving in a bearish channel pattern on the 12-hour frame, and it adheres to it well and is expected to break it upwards.
The price rebounded well from the lower border of the channel at the green support level 0.003680
We have a tendency to stabilize above the Moving Average 100
We have oversold resistance on the RSI indicator to support the rise, with a downtrend about to break higher
Entry price is 0.003680
The first target is 0.004300
The second goal is 0.004718
The third goal is 0.005270
HEROMOTO WAVE 3 IS ONN
Wave 1 is a 5 Wave Impulse Sequence Structure in 6 Month chart, and Wave 2 is a 3 Wave Correction structure.
Wave 2 has retraced Wave 1 by 61.80% which suffices by the Elliot Wave Theory Correction rules.
Now Wave 3 is on and as per the Elliott Wave Theory and Fibo Extension Levels 161.80% is the minimum Wave 3 achieves, hence projection is Rs. 7793.20.
Hero Motor Corp | Elliott Wave Analysis | Learn with me...Wave Analysis:
Within the completed fifth wave, we can see that the corrective wave II has completed a WXY correction, which is a complex correction pattern consisting of two zigzag corrections and a connecting wave. The internal degree 1 wave within the WXY correction has also completed, indicating a potential uptrend.
Currently, the stock is in the early stages of the second wave, which is a corrective wave. It has completed the internal degree 1 wave, which consisted of a zigzag correction. However, the corrective wave is likely to continue, and the stock may find support near the 2500 level.
In conclusion, Hero MotoCorp has a strong long-term trend and is currently in a corrective wave, which is likely to find support near the 2500 level. Traders and investors should keep a close eye on the stock's price movements to identify potential entry and exit points.
Thank you for your love and trust...!
Heromotoco - Elliott Wave CountHeromotoco - Elliott Wave Count
Heromotoco - Ready for 2900.. the market appears to be completed the Wave B and we can expect wave C with the target of 2900 and below. please note that if the market cross above 3188 which is our SL, the view considered as invalid.
Please note that this information is solely for educational purposes, and it is essential to exercise caution when trading.
NSE:HEROMOTOCO BSE:HEROMOTOCO NSE:HEROMOTOCO1!
Heromotoco - Elliott Wave CountHeromotoco - Elliott Wave Count
Heromotoco - the market violates our bearish view which we posted earlier. Hence this might be an alternate view on Heromotoco. however, its recommended to open short position only if the market breaks above channel and comes back closed inside.
Please note that this information is for educational purposes only, and it is crucial to trade with caution.
NSE:HEROMOTOCO BSE:HEROMOTOCO NSE:HEROMOTOCO1!
Heromotoco - Elliott Wave CountHeromotoco - Elliott Wave Count
Heromotoco - The market appears to be in correction. it seems that Wave B is near completion and Wave C expected to begin with the targets below 2850 level and consider 3244 level for invalidation to this view.
Once the ABC correction is completed we can expect the next impulse up move.
Please note that this information is for educational purposes only, and it is crucial to trade with caution.
NSE:HEROMOTOCO BSE:HEROMOTOCO NSE:HEROMOTOCO1!
RISK OF 2.5% IN NSE:HEROMOTOCORPfor GAINING atleast 13.5%, NSE:HEROMOTOCO is in rally for past 5 months and expecting it to continue it's rally until it reaches the ATH (fundamental view : expecting rise in revenue by HARLEY-DAVIDSON partnership) and it also respected the valid DEMAND ZONEs in the past. 2862.50 or below it could be the best price to enter the trade and the target could be recent swing high or the ATH of 4091.
NSE HEROMOTOCO: Are Bulls Strong Enough to Sustain Impulse?Timeframe: 30 min
Brief analysis:
HEROMOTOCO has started a five-wave impulse cycle from the low of 2745.5. Price has accomplished wave Y of wave (4) and started impulsive wave (5). Buyers will have an opportunity with a captivating risk reward to ride the trend after confirmation for the following targets: 3167 – 3210 – 3260+ .
In-depth analysis:
NSE HEROMOTOCO has formed an impulsive cycle after an extreme low. In this case, the security is trading above the 20,50, 100, and 200 EMAs, which indicates that the bulls are in control. The formation of wave two was a running flat which retraced 0.618% of wave (1) at 2795. The third wave was an extensive wave that extended 3.618% of wave 1.
Wave 4 has formed a double zigzag formation with wave W-X-Y, in which wave W was a zigzag, and wave Y is an expanding triangle. The retracement of wave (4) is 0.382 of wave 3. Currently, the price has broken out and traded above wave d, which signals that the big move is about to unfold.
Corrective structure always holds by either wave X or B-D trendline in expanding triangle. The price can take a retracement if the demand is growing with low volume. If the price breaks out at 3131, traders can initiate a long position for the following targets: 3167 – 3210 – 3260+ . The setup will be invalid after the breakdown of wave e.
Target measurements:
100% Reverse Fibonacci of the 4th wave at 3208, and 38.2% extension of wave 1 through the 3rd wave at 3212.
50% Fibonacci extension of wave 1 through 3rd wave at 3261.
Nearby high of wave B at 3167.
We will update further information soon.
HEROMOTOCORP- Daily/Hourly Timeframe-Tringle PatternNSE:HEROMOTOCO
Entire auto sector has outperformed in past few weeks, However HEROMOTOCO is looking a bit weak as per as per the daily chart, it has broke its previous daily swing low.
Stock is consolidating in tringle in hourly chart. In hourly chart buyers are trying to push price higher (Higher lows) however sellers are defending level 2840-2855.
If it breaks either side we may see a momentum, keep eye.
This idea is only for educational purpose, please manage your risk accordingly.
HEROMOTOCO - Bullish Momentum with VolumesNSE: HEROMOTOCO is closing with a bullish momentum candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade