Hero MotoCorp Ltd. Stock Analysis
Hero MotoCorp Ltd. Chart Analysis https://www.tradingview.com/x/R1b1MIjK/
Key Observations:
Price Levels:
Current Price: ₹5,743.75
High Price (Resistance): ₹6,600 - indicated by the potential upside shown as 14.69% (856.45 points).
Low Price (Support): ₹4,905 - indicated by the potential downside shown as 14.35% (-838.95 points).
Potential Move:
The chart suggests a possible upward move of 14.69%, targeting the ₹6,600 level.
On the downside, it shows a potential downward correction of 14.35%, which would take the price down to ₹4,905.
Volume Indicator (CVD - Cumulative Volume Delta):
The CVD values show a large red (selling) pressure with -64.029K, indicating more sellers than buyers in recent trading periods.
Analysis:
Bullish Scenario: If the price breaks out above the current resistance, it may head towards the ₹6,600 level.
Bearish Scenario: If the stock faces selling pressure and moves downward, it could drop to the ₹4,905 level.
Neutral: The current level around ₹5,743.75 seems to be a key pivot point, where the market may decide its next major direction.
Conclusion:
This chart provides both an upside potential and a downside risk. Traders should watch how the price behaves around the current levels to understand whether the breakout will happen to the upside or downside. Keeping an eye on the volume data can also help in predicting the next move based on market sentiment.
Key Observations:
Price Levels:
Current Price: ₹5,743.75
High Price (Resistance): ₹6,600 - indicated by the potential upside shown as 14.69% (856.45 points).
Low Price (Support): ₹4,905 - indicated by the potential downside shown as 14.35% (-838.95 points).
Potential Move:
The chart suggests a possible upward move of 14.69%, targeting the ₹6,600 level.
On the downside, it shows a potential downward correction of 14.35%, which would take the price down to ₹4,905.
Volume Indicator (CVD - Cumulative Volume Delta):
The CVD values show a large red (selling) pressure with -64.029K, indicating more sellers than buyers in recent trading periods.
Analysis:
Bullish Scenario: If the price breaks out above the current resistance, it may head towards the ₹6,600 level.
Bearish Scenario: If the stock faces selling pressure and moves downward, it could drop to the ₹4,905 level.
Neutral: The current level around ₹5,743.75 seems to be a key pivot point, where the market may decide its next major direction.
Conclusion:
This chart provides both an upside potential and a downside risk. Traders should watch how the price behaves around the current levels to understand whether the breakout will happen to the upside or downside. Keeping an eye on the volume data can also help in predicting the next move based on market sentiment.
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