HEROMOTOCO trade ideas
Techno-Funda pickHero Motor is consolidating since Feb 21 and now it has given a Pennant / Bullish wedge breakout with good Volume. Hero is a market leader and consistently showed great growth on YOY basis. Still there is a significant upside left for the stock so in my opinion, one can do SIP in this stock without being worried for Stop loss simply because it has a great fundamentals. Buy it in instalments or on each dips and there will be few resistances before it tests its all time high ie 4000.
CMP - 2892 W (6/3/23)
T - 3100, 3500 W
SL - 2700 W
HEROMOTOCOMake Cup and handle pattern in 4 hour time fram , 50 EMA cross 100 EMA from below in 4 hour time fram , MACD saw fair value in daily time fram , make retest at breakout level so first Target will be 2888.30 and stop loss will be 2661.10
This is for educational purpose not a trading advice so that's my view comment down your view 🤗
#HEROMOTOCO... Looking good 18.05.23#HEROMOTOCO.. ✅▶️
Intraday as well as swing trade
All levels given in charts ...
IF good potential seen then we work in options also
if activate then possible a huge movement Keep eye on this ...
We take trade only when it activates...
Possible to give good target
TRADING FACTS
HEROMOTOCO--Consolidation + Up move ??--->> The stock is trending upwards with strong consolidation.
----->> now price reached the resistance .
------->> keep look at this level for continue or reversal downside. we have an another resistance at 2820 levels.
-Consolidation + Up move == reversal possible.
CAN YOU BE my herothis stock is doing nothing for a longtime. has completed complete Elliot cycle on daily chart I am buying this stock in sip mode for 4 to 8 months time period the only condition this trade has is it should not go below 2500 levels otherwise all wave patterns will fail and we will analyze it again. targets i will update as it forms over time but still 2900 and above targets in 4 to 8 months is what I am expecting.
HEROMOTOCO--Likely to reversal or continue??Observations:
---------->>the stock is trending upwards,
-------->>After a strong bearish gap down, price is moving upwards again from demand zone @2460-2440.
------>> keep track on this for further bullish continuation or likely to reversal from this zone.
we need further price action to be noticed, for reversal. As of now its bullish.
Long HEROMOTOCORPThe chart pattern of HERO resembles MARUTI a few quarters back (Previous idea).
Once the range of 2900 - 3000 breaks, it will achieve 3500 levels.
HERO is a symbol of rural consumption; within the last few months, the inflation scenario has favored producers and thus, agro-businesses.
BUY! and keep buying on DIPS
*NOT SEBI REGISTERED*