The stock has picked up well, taking support from near the 200-DMA moving average level of 370 and has showed improvement in the bias. The RSI also has recently indicated a trend reversal and is on the rise to show strength and has potential to rise further in the coming days. With the chart looking good, we suggest to buy and accumulate this stock for an upside target of 440-450 keeping the stop loss of 370.
BUY HERO MOTOCO | CMP: Rs 3,185.30 | TARGET: Rs 3,500-3,550 | STOP LOSS: Rs 3,000
The stock has consolidated for quite some time near 2,950 levels and picked up momentum to improve the bias with a steady rise and we anticipate further upward movement in the coming days. The RSI also has been on the rise gradually to indicate strength and has potential to rise further in the coming days. With the chart looking attractive, we suggest to buy and accumulate this stock for an upside target of 3,500-3,550 keeping the stop loss of 3,000.
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