SINCE LATE MARCH-2020 HEROMOTOCORP STOCK HAS NEVER GAVE ANY SIGNS OF WEAKNESS ON H-4 OR HIGHER TIME FRAME CHART. CURRENTLY STOCK IS TRADING AT PREVIOUS STRUCTURE RESISTANCE, WHERE CHART WAS HELD ON 07-JULY-2020. YESTERDAY, 17-JULY-2020, BULLS TOOK STOCK TO RE-TEST SAME RESISTANCE AREA, WHICH MAY TURN INTO DOUBLE TOP FORMATION IF GETS REJECTION TOWARDS DOWN SIDE.
AGGRESSIVE TRADERS CAN WAIT FOR ANY SIGNS OF WEAKNESS IN PRICE ON LOWER TIME FRAME TO GET EARLY ENTRY IN POTENTIAL BEARISH SWING TRADING OPPORTUNITY. WHICH WILL GIVE THEM BEST RISK REWARD TRADING SETUP. WHERE AS CONSERVATIVE TRADERS SHOULD WAIT FOR BEARISH SIGNAL ON H-4 TIME FRAME TO CONFIRM DOUBLE TOP FORMATION.
AS PER SUPPORT AND RESISTANCE BASED TRADING SYSTEM, WE CAN PREDICT THAT IF CHART GETS REJECTION AT PREVIOUS RESISTANCE (DOUBLE TOP FORMATION IN THIS CASE), IT MAY RUN TOWARDS "ICE ZONE" (PREVIOUS SUPPORT TURNS RESISTANCE, VICE VERSA) AROUND INR 2250.
AGGRESSIVE TRADERS CAN WAIT FOR ANY SIGNS OF WEAKNESS IN PRICE ON LOWER TIME FRAME TO GET EARLY ENTRY IN POTENTIAL BEARISH SWING TRADING OPPORTUNITY. WHICH WILL GIVE THEM BEST RISK REWARD TRADING SETUP. WHERE AS CONSERVATIVE TRADERS SHOULD WAIT FOR BEARISH SIGNAL ON H-4 TIME FRAME TO CONFIRM DOUBLE TOP FORMATION.
AS PER SUPPORT AND RESISTANCE BASED TRADING SYSTEM, WE CAN PREDICT THAT IF CHART GETS REJECTION AT PREVIOUS RESISTANCE (DOUBLE TOP FORMATION IN THIS CASE), IT MAY RUN TOWARDS "ICE ZONE" (PREVIOUS SUPPORT TURNS RESISTANCE, VICE VERSA) AROUND INR 2250.