Hero moto case study

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HERO MOTO SPOT CMP 2675

HARMONIC STUDY

TIME FRAME :- HOURLY

Bullish Bat pattern formation on hourly time frame.
PRZ in range 2670-2640
Reversal confirmation above 2730
pattern violation below 2600 levels
Upside retracement levels of 2780-2815 possible

Triple bullish divergence on RSI where price made lower low 3 time and RSI made higher lows
RSI have given breakout and retest of falling trend line and now on verge to break above previous high levels, indicate bullish price action ahead.

Descending triangle pattern formation , having breakout confirmation above 2690 levels ,, which would lead to measured move of 90 points ,,

Trade type :- Swing
-Time horizon :- 7-10 trading sessions

Good long candidate.
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FROM 2640 TO 2780

first targets is reached,,

140 points done

book profit,,
we have another positional study which have higher targets
BANKNIFTYDescending TriangleHarmonic PatternsheromotocorpTechnical IndicatorsNIFTYpriceactionanalysisrsibreakoutrsidivergenceTrend Analysis

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