HEROMOTOCO trade ideas
HERO MOTOCORP as on 14.08.2021A DESCENDING TRIANGLE PATTERN FORMED!!
LET SEE WHERE IT WILL GIVE A BREAKOUT!!
If breaks up then can give a good high!!
If breaks down can make a down fall!!
HAMMER ALSO FORMED 2 DAYS BACK WITH NO CONFIRMATION CANDLE!!
DO CHECK THE BREAKOUT VOLUME!!
(ABOVE analysis is only for study purpose do not take it as any buy or sell call)
A big move possible - Either SideThe Chart is pretty self-explanatory if you know the basics.
The script has formed a beautiful bearish head and shoulder pattern and is also forming a double bottom pattern from strong support (+ 38 Fibo Level) testing a make or break trendline (Yellow)
Either side break can give a super move given the market volatility.
DISCLAIMER: The ideas are merely for educational purposes. Please consult your financial advisors before taking any trade. Trade at your own risk.