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Published on 9/04/2020 9:42:13 AM | Source: Motilal Oswal Financial Securities Ltd 

Buy Hero Motocorp Ltd 2-3 Days SL 1770 Target 1925 CMP 1822 - Motilal Oswal

Posted in Broking Firm Views - Short Term Report| #Hero MotoCorp Ltd #Auto Sector #Trading Report #Motilal Oswal Financial Services Ltd

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Technical Trading Idea

* Hero Motocorp is showing tremendous strength from last two sessions and made a higher high – higher low sequence on daily chart, which is a positive sign as per Dow Theory. We are witnessing a Triangle breakout on hourly chart, which certainly bodes well for the bulls. RSI oscillator also showed a positive divergence on daily scale.

* Looking at current chart structure, we may see a bounce towards 1925 levels. Thus, traders are advised to buy the stock with stop-loss of 1770.

Buy Hero Motocorp Ltd 2-3 Days SL 1770 Target 1925 CMP 1822

 

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