HEROMOTOCO trade ideas
HEROMOTOCO - CONSOLIDATION BREAKOUT 📊 Script: HEROMOTOCO (HERO MOTOCORP LIMITED)
📊 Nifty50 Stock: NO
📊 Sectoral Index: NIFTY AUTO
📊 Sector: Automobile and Auto Components
📊 Industry: Automobiles
Key highlights: 💡⚡
📈 Script is trading at upper band of BB.
📈 MACD is giving crossover.
📈 It is giving breakout of consolidation zone.
📈 Right now RSI is around 63.
⏱️ C.M.P 📑💰- 2913
🟢 Target 🎯🏆 - 3186
⚠️ Stoploss ☠️🚫 - 2812
⚠️ Important: Always maintain your Risk & Reward Ratio.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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HEROMOTOCO SHORTHero moto corp. broke down the trendline and is ready to fall
Great returns expected in this stock. Targets mentioned in the chart.
Safe SL can be around 2850 levels.
It is yet to give a re-test of the trendline.
Trade safe. Manage risk. Be profitable.
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Disclaimer :- This is just my view. Please analyze charts yourself and then decide to take any trades.
Hero of the Week. Hero Moters!In Sept 17, Hero Moters has made its all time high of 4100 and since then the stock is consolidating down trend. Recently in 2021, stock tried to test resistance of 3500, however, didn't manage to sustain. Somewhere in May 22 the stock made its first positive structure of Bullish wedge on daily charts and gave breakout around 2500 when it caught my attention. It has already achieved all my targets on daily charts without hitting a SL. Now on weekly charts the stock has made again a positive structure on Inverted Head and shoulders Pattern. Now we can assume the stock has completed its down trend consolidation and expect to resume its up trend and again test resistance of 3500. One more reason to buy this stock is, CNX Auto Index has give a successful closing above 1200 on weekly charts. (You may read my last weeks analysis on CNX Auto). The company has very good fundamentals and one of the biggest market share in India. Therefore, this is a very good techno-funda pick. The SL is purposely kept deep as this stock is worth of long term investment. One can actually add this stock on dips seeing its fundamentals.
CMP - 2850 W
Target - 3360 W
SL - 2600 W
View - Medium term.