Saturday, October 8, 2011

Hero Motor Corp at its support level

Hero Moto Corp is now trading at its support level. This support level comes from Fibbonacci Retracement. HeroMoto is trading near to its 0.618 retracement at 1917. I have taken this retracement from low made on 8/8/2011 at 1720 to high made on 9/9/2011 at 2237. This suggest that the support comes at the 1900-1920 zones. It is possible to go long with a stop below 1830 which is the .78 retracement. Reader views are welcome. Chart below:


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