Break down in HeroMoto.
Hero Moto corp has given a break down of a triangular consolidation and also closed below its 20 DMA,
Though, its taking support from its weekly 200 ema.
Tomorrow, if the stock on an hourly time frame closes below 2774 levels, a short traded can be initaited.
Targets :- 2735, 2692
Stop loss :- 2775
The markets are retracing and the stock if closes below 2730 tomorrow, it will break its weekly 20 ema and a swing trade for the month of October can give nice targets.
Wait for the price action near the levels and on closes to closes basis the stock will give nice targets.
Though, its taking support from its weekly 200 ema.
Tomorrow, if the stock on an hourly time frame closes below 2774 levels, a short traded can be initaited.
Targets :- 2735, 2692
Stop loss :- 2775
The markets are retracing and the stock if closes below 2730 tomorrow, it will break its weekly 20 ema and a swing trade for the month of October can give nice targets.
Wait for the price action near the levels and on closes to closes basis the stock will give nice targets.
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