|Sell Range||2740 – 2685|
|Target||2525 – 2470|
|Duration||15 – 20 Trading Sessions|
|Potential Return^||6 – 8%|
|CMP#||Idea||Sell Range||Target||StopLoss*||Duration||Potential Return^|
|2688.35||SELL||2740 – 2685||2525 – 2470||2845||15 – 20 Trading Sessions||6 – 8%|
# CMP on Oct 01, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 2607.
^ The returns are calculated based on CMP#
Hero MotoCorp Limited develops, designs, manufactures, assembles and sells motorcycles and scooters in India. It also exports engines, parts, motors and accessories in Africa, Asia, South and Central America. Hero Motocorp Q1 consolidated revenue decreases to Rs 8185.97 crore for the June 2019 quarter, against Rs 8913.27 crore in the year-ago period.
TECHNICAL OBSERVATIONS (WEEKLY)
- As we see in Weekly chart, the long term trend is negative since April, 2018. There is a steady resistance which is moving downwards alongwith price fall.
- Presently, the stock price has placed near the upper end of a sideways range and also in the process of declining towards lower bound of this range.
TECHNICAL OBSERVATIONS (DAILY)
- Lower Tops and Lower Bottoms at Daily Charts.
- MACD(12,26) crossed from above to below its Signal line(12,26,9) indicating continuation of the downtrend in the coming sessions.