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Published on 18/06/2019 3:41:20 PM | Source: Choice Broking Pvt Ltd

Buy Hero MotoCorp Ltd For The Target Rs. 2875 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Hero MotoCorp Ltd #Auto Sector #Trading Report #Choice Broking

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* On a daily chart, the stock has taken the support of its 50 Days Moving Average which is placed at 2660 level which shows a bounce back movement in the counter.

* Moreover, the stock has already given a breakout of its Upper Band of Falling Wedge formation which suggests a northward movement in the counter.

* Furthermore, on an hourly chart, the stock is reverting back from its support zone as shown in the chart which indicates a positive bias in the counter.

* An hourly momentum indicator RSI reading is at 43.55 level with a positive crossover which points out for a positive breath in the counter.

* Based on the above technical structure, we are expecting a good upside movement in the counter in few trading sessions.

 

 

Recommendation

Buy Hero Motocorp Ltd Jun Fut @ 2665-2678.65 Target 2875 Stoploss 2580

 


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