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Heromotocorp breakout

Discussion in 'Technical Analysis' started by raazmohan, Mar 4, 2016.

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  1. raazmohan

    raazmohan New Member

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    Hi Shabbir,

    It seems Heromotocorp has given breakout. It has tested the Gap resistance 7 times which was formed on in Feb 2015 and finally given breakout.

    As per Elliotewave theory also if stock spends more times during consolidation the more number of times to try to break sup/ Res it will give powerful move once breakout is given.

    Buy position can be taken with SL of 2700 and target. 3000/3200. Kindly post your views.

    Regards
    Raja.
     
    raazmohan, Mar 4, 2016
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  2. shabbir

    shabbir Administrator Staff Member

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    Yes a breakout above 2700 is clear indications of target of 3000 to 3200 can easily be reached.
     
    shabbir, Mar 5, 2016
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