HERO HONDA Daily NSE Stock Chart Technical Analysis
Hero Honda fell today, Open: Rs. 1874, CMP: Rs. 1829.35.
Market Outlook:
Tomorrow also the price could fall and the market should close between Rs. 1807 and Rs. 1813.
The price should make a small upward correction soon.
Technical Indicators:
The price fell today with good trading activity, and could easily fall tomorrow as well.
There are 2 levels of immediate support to stop the price from falling further: Rs. 1813 followed by Rs. 1807. There are previous swing lows as well as Fibonacci support levels.
If price manages to fall below both these levels, the 3rd support is at Rs. 1775. And of course, we also have the support trendline below that.
The price is reaching into the oversold levels so it should pick up the rally and move upwards again once it hits the support lines.
There are support and resistance trendlines as visible on the chart. Any breakouts from these lines will be very significant. Though this is not expected, keep an eye on any breakouts from these trendlines.
HERO HONDA Daily NSE Stock Chart Technical Analysis
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