HERO MOTOCORP
- HERO MOTOCORP is currently facing strong golden ratio resistance (61.8% fibonacci retracement) at current levels, close watch technicals indicates once stock closes and stays above 2625 then further strength is expecting in Hero Motocorp for next 1-2 trading days. And stock will find next strong trend line resistance around 2690 as shown in chart no 1.
- Intraday close watch once stock starts trading above 2625, if stays above 2625 then intraday bulls action is expecting.
- Suggested Reading - MARUTI SUZUKI is moving up from strong support, stock is now on the verge of bullish breakout.
- Daily chart also indicates stock is moving up from 100 days moving average, as long as stock holds above 100 DMA it will favor bulls. If we look at Hero Motocorp chart closely it shows that earlier also stock moved up from 100 DMA , and this time too it is moving up. Close Watch.
- As per graph no 3. Hero Motocorp was moving in a down channel formation, but stock has now come up from its down pattern, close watch this will favor bulls, Once stock closes above its resistace of 2625 then bulls to get active in this stock. close watch.
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