According to IIFL, traders can sell Hero MotoCorp January future below Rs 1,920 for the target of Rs 1870 with a stop-loss of Rs 1,945.
"Hero Motocorp, on the daily chart, the stock has been trading near the long term resistance drawn from the peak of Rs2,000 in August 2011, the same level coincides with its 200-DMA. Moreover, it is forming a stalling pattern and a move below Rs1,890 should confirm resumption of selling pressure. The volumes trend on daily basis also shows major divergence despite prices moving higher. (Duration 6 days)," says IIFL research report. Non-Institutions holding more than 90% in Indian cos Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. To read the full report click on the attachmentDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
