Ganesh Chaturthi PICK 2023 By Sumeet Bagadia, Choice Broking Ltd
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Hero Motocorp Ltd
HEROMOTOCO has formed a bullish rounding bottom pattern on daily chart, indicating the potential continuation of a bullish trend. The price recently broke out above the resistance level of 3090. marking a significant breakout point.
This breakout is a positive signal for investors, suggesting that the stock has room for additional upward movement.
HEROMOTOCO is currently trading above key Exponential Moving Averages (EMAS), including the 20-day. 50-day. 100-day, and 200- day EMAS, which underscores its bullish momentum and the potential for ongoing upward price movement.
Additionally, the Stochastic RSI is displaying a positive crossover, indicating strength in the stock. The ADX (Average Directional Index) is at 16 and is trending upward, signifying momentum in the stock.
These technical indicators collectively support the bullish outlook for HEROMOTOCO and suggest that the stock may have the potential for further gains in the near term.
Buy HEROMOTOCO @ 3100 & Upto 3000 for the Target of 3400/ 3490
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SEBI Registration no.: INZ 000160131
