Stock of the day : Hero Motocorp Ltd For Target Rs. 120 - Religare Broking
![](https://portfolio.investmentguruindia.com/uploads/news/Hero Motocorp Ltd 1.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Hero Motocorp Ltd
* HEROMOTOCO has been showing signs of weakness after finding resistance around its previous breakdown zone which coincides with 61.8% retracement line.
* The stock consolidated for nearly a month and has now registered a decisive breakdown from the same.
* It is trading well below its short term moving average i.e. 20 and 50 EMA, which had provided key support in the past.
* We thus recommend creating shorts through the Put option
BUY 4400 PE Hero Motocorp Ltd CMP 68.50 Range 65-70 SL 45; Target 120
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ000174330
![](https://portfolio.investmentguruindia.com/uploads/news/Manish Chowdhury.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Suman Bannerjee.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/farm22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/karnal22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Shrey Jain.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Economy.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/GV_Singapur.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/fdi22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _26.jpg)