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
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.