Hero Motor Corp - Bearish Trend - Descending Triangle - Short

30 thg 7, 2021

Hi Guys,

Welcome to Thenali Views !!!!

We are hear analysis the Chart of Hero Motor Corp Ltd!!!

Trend was in the Bearish .
EMA 20, EMA 100 and EMA200 shows the weakness.

The script has evidence the Bearish Harami Continuous Candle Stick Pattern
at Support and It's clearly breaks the strong support.

Now the script was formed in the Descending Triangle Pattern and Breakout has happened.

Once the script retest area of Previous support which turn to be resistance now.

Go short at the Resistance level at 2846.70 (Closes below in daily time frame in retest)
Target - 2510
SL - 2868.50 ( Closes Above in Daily time frame).

Option:
Buy 2800 PE on the script reaches the resistance level of 2846.70
Sell 2950 PE
or
Sell 3000 CE and Buy 3100 CE ( Hedging Purpose).

Disclaimer: Kindly do your own analysis or consult your financial advisor before executing the trade.
I am not SEBI Registered Analyst. This analysis is for Educational Purpose.