Hero Motocorp Technical Analysis #88: Sell | Target Rs 2525 | Arijit Banerjee

Sell Range2740 – 2685
Target2525 – 2470
Duration15 – 20 Trading Sessions
Potential Return^6 – 8%
CMP#IdeaSell RangeTargetStopLoss*DurationPotential Return^
2688.35SELL2740 – 26852525 – 2470284515 – 20 Trading Sessions6 – 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.

Stock Data
IndexNifty Auto
52W High3380
52W Low2225.6
Face Value2
Relative Performance_Hero Motocorp vs Nifty Auto Index


  • 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.
Hero Motocorp Weekly Chart
Hero Motocorp Weekly Chart


  • 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.
Hero Motocorp Daily Chart
Hero Motocorp Daily Chart


Based on our free short term trading tips, Hero MotoCorp share price target will be 2525 – 2470 in the next few days.


1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.


The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).


The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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