HEROMOTOCO trade ideas
Hero moto good short candidateHeromoto spot cmp 3365
Good positional short candidate
Inverted head and shoulder pattern formation..
Counter currently trading around resistance line of neckline and mid point of rising channel,,
RSI makind bearish divergence,,
Ever 150 trading session counter is changing it trend,, as per this 19 oct can be perfect trend change date
Counter can be short at current levels with stoploss of 3400 and hold for 10-15% down side targets...
Long opportunity, Stock is making Higher high and higher lows on 3 days basis.
Price is moving in a smooth channel.
The stock is outperforming nifty and ADX is rising which is showing the strength in the price
SL is 3178(5%)
Hero moto good short candidateHeromoto
Bearish crab pattern formation on 15 min time frame,,
prz around 3305 to 3325 range
View gets violated above 3355
Down side targets can be 3244..3190,,3164
HEROMOTOR CORP ( DAILY) - Trend Line BreakoutHEROMOTOR CORP ( DAILY) (STOCH > 25 , 75)
Possibility of trend line breakout drawn from 18th Sept 2020 till 9th Oct 2020
100 day horizontal channel high broken out on 9th Oct 2020
HOWEVER ,
Formation of Dravas Box has been taken place since Apr - May .
Further indications of pull back and taken support at EMA and MA .
Could expect a pull back and take support at either 9 , 21 day EMA or 50 day MA for a stronger signal.
Look into volume movement for signs of pullback
9 day EMA > 21 day EMA > 50 day MA
RSI > 70
Volume > AVG
Buy above 3350
Target height of trend line for Rs. 250 move
OR
Target 2*ATR for Rs.180 move
Bull Flag Pattern in HEROMOTOCO (Short term Swing Trade)This analysis is purely on price action and chart patterns.
Trade opportunity is for short term swing. But since the sector is expected to be bullish in coming years, it can be used for investment opportunity too.
Trade Strategy is explained in image itself.
Traders can either wait for the pull back and then enter at around 3573 and below *OR* Risk averse traders can enter on the high of the candle as well.
SL is given in image itself.. SL needs to be trailed accordingly.
*Trade should be taken at your own risk and money management*
Feel Free to comment your queries or suggestion in comments.
Hero Moto Co (Consolidation breach incoming ?)Hero Moto has formed a Triangle in and around it's current high formed around the 3200 mark. It will be interesting to see how it reacts on the upper end of the triangle, in case a breach come through a new upside trend might start, purely based on technicals. However in case the breach is towards the downside it might continue lower for a while.
Numbers for Auto's are due on the 1st of October so that might play a role as well. Keep in mind that a breach before 1st might not sustain if the numbers indicate an opposite trend. Trade with Caution.
Heromotoco - Bullish Wolfe WaveBullish wolfe wave on 15 min chart and also 61.8 retrace on daily chart. Two bullish pattern confirms a rally...
Hero moto good short candidateHero moto counter on 15 min time frame have completed Head and Shoulder pattern. counter have given breakdown from neckline support with large bearish candle and huge volumes,, generally head and shoulder patterns are found around peak area,, so this can be peak for the counter and good reversal can be seen in counter,, view gets negated once price breach the high of right shoulder,, downside we can see levels of 2800-2750-2700,, targets can be decided based on height of head which is around 215 points in this case,, and break down from neckline support around 2965 levels,, so we can see fall of 215 from breakdown levels,, which would lead to targets of 2750,,
LONG Hero moto corpHero Moto Corp is at its 1D support , one can enter long from CMP with SL of 100 rs and Target for 200 rs.
1:2 risk:reward ratio
ONLY FOR EDUCATIONAL PURPOSE
Triangle Pattern on Heromoto after successful H&SHeromoto has recently gave beautiful H&S result and now it seems to have formed another high prob. pattern- Triangle Pattern. We are looking for a breakout in either direction but I am better on downward breakout with Target being the base of the triangle market as the measurement of the arrows
