Head and Shoulder pattern was observed in Hero motor Corporation. This pattern was witnessed by high volumes during left shoulder. We could take short position at 2473/- with SL 2553/-. The target could be 2327/- (which is equal to height of the left shoulder).
HEROMOTOCO – Head and Shoulder pattern was observed.
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Stock Analysis
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Bullish View
Bearish View
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Hi,
The first shoulder forms after a significant bullish period in the market when the price rises and then declines but in this case it appeared after a bearish trend so, this is not a proper head and shoulder pattern.