Stock Pick : Buy Hero Motocorp LtdFor Target Rs.2,810 - Jainam Share Consultants
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Technical Observation
* The stock price closed at Rs.2831 on 6July 2022. It made a 52 week High at 2954.
* After making 52 week low around 2146} the price is making higher high-lo formation on daily time frame.
* Currently the stock has given Flag chart pattern breakout which is a_ bullish breakout. The breakout was seen with] above average volume. During Pole formation, the volume was very high and during flag formation the volume was very low as it shows less selling interest.
* The momentum indicator is also above 60} level which is in a bullish territory, that} indicates bullish momentum at current level.
* We expect the stock price to continue its}current bullish momentum and head| towards 2980-2995 levels considering the current price action.
Chart of the Week
STOCK NAME : Heromoto CMP : 2831 BUY @ 2810 TGT : 2980-2995 SL : 2683 HOLDING PERIOD : 10-15 Days
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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