Hero MotoCorp — Daily Chart Breakout Trade Setup
Range Bound: The stock has been consolidating between ₹4,170–₹4,400 for the past several weeks.
Structure: This is a classic rectangle consolidation, often a continuation pattern.
Volume: Watch for volume expansion on the breakout; prior breakouts lacked follow-through due to low volumes.
Higher Timeframe (Weekly/Monthly) charts show a bullish continuation since mid-May, with high-volume candles across weekly and monthly charts
Key resistance zones: Weekly resistance lies between ₹4,930–₹5,000.
Strong fundamental macro tailwinds: March sales show robust performance in both domestic ICE and EV segments (Vida)
🔍 Key Confirmation Signals for a Potential Trade
✅ Strong daily candle close above ₹4,420
✅ Above-average volume on breakout
✅ RSI crossing 60 on breakout adds momentum confirmation
⚠️ Risk Management Notes
Avoid early entry within the range (false breakouts possible)
Wait for EOD close above resistance for confirmation
Consider a trailing SL once the stock crosses ₹4,500
Range Bound: The stock has been consolidating between ₹4,170–₹4,400 for the past several weeks.
Structure: This is a classic rectangle consolidation, often a continuation pattern.
Volume: Watch for volume expansion on the breakout; prior breakouts lacked follow-through due to low volumes.
Higher Timeframe (Weekly/Monthly) charts show a bullish continuation since mid-May, with high-volume candles across weekly and monthly charts
Key resistance zones: Weekly resistance lies between ₹4,930–₹5,000.
Strong fundamental macro tailwinds: March sales show robust performance in both domestic ICE and EV segments (Vida)
🔍 Key Confirmation Signals for a Potential Trade
✅ Strong daily candle close above ₹4,420
✅ Above-average volume on breakout
✅ RSI crossing 60 on breakout adds momentum confirmation
⚠️ Risk Management Notes
Avoid early entry within the range (false breakouts possible)
Wait for EOD close above resistance for confirmation
Consider a trailing SL once the stock crosses ₹4,500
Aviso legal
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.