HEROMOTOCO 11.08.2018 05:40PM

Hero Motocorp ltd stock technical chart in daily time frame has taken the formation of “Falling channel” pattern. As the last few sessions’ been in consolidation near a key resistance zone inside the channel, where the same expected to continue on bullish momentum once the market breaks above a key resistance zone near 3350. Such a break will increase the possibility of the contract rallying towards 3400-3500 in the upcoming sessions. Although an alternative scenario indicates that if the resistance holds too strong, then it might retest the same and revise to bearish momentum.A pushback from that level can drag the contract towards 3280-3200 levels. Key support holds at 3200.

Technical Chart:

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