HEROMOTOCO : Building Momentum from Correction Lows HERO MOTOCORP
Learning Points:
Wave Analysis: Wave C zones typically offer high-probability reversals.
Golden Retracement Zone: The Fibonacci 50%–78.6% zone is a critical demand area.
Demand and Supply Dynamics: Understanding these zones improves entry and exit precision.
Trading Plan:
Entry Strategy:
Enter between ₹4560–₹4688, within the Golden Retracement Zone for Wave C correction. Confirmation from bullish divergence or candlestick patterns is key.
Stop-Loss Placement:
₹4540, slightly below the Golden Retracement Zone.
Target Strategy:
Short-Term: ₹4950–₹4995, a supply zone.
Swing Target: ₹5106, aligning with Wave C completion and Fibonacci extensions.
Predictions:
A reversal from ₹4560–₹4688 is expected, targeting ₹5106. Demand confirmation is essential before entering.
Disclaimer:
I am not a SEBI-registered analyst. This analysis is for educational purposes only. Conduct your research or consult a financial advisor before trading.
