HERO MOTOCORP is showing volatility managing to trade sideways. In today’s trading session it had a consolidated movement ending on a positive note. It is now facing immediate resistance at the level of 1919 and having support at the level of 1829 below which it is likely to follow a downtrend in the short term or it may sustain at the same level. One can wait for the confirmation of the movement.
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The stock shows range bound movement in today’s trading session and ends on positive note. The stock now faces resistance at 1096 and support at 1073. The stock can continue its bearish trend below support level in near future. One should avoid taking any position in the stock and should wait for break out of either side.
The stock had an up rally in today’s trading session, post the RBI policy which cheered all the banking stocks. Its next resistance is at 1053, if it consolidates for a while, crossing of this level may take the stock further upwards