Sell Hero MotoCorp, target Rs 3,480: Sameet Chavan
ETMarkets.com|
Nov 21, 2017, 08.29 AM IST
Sameet Chavan of Angel Broking has a sell call on Hero MotoCorp with a target price of Rs 3480.
The current market price of Hero MotoCorp is Rs 3,658.50.
Time period given by the analyst is one week when Hero MotoCorp price can reach defined target.
Sameet Chavan recommended to keep a stop loss at Rs 3,731.
In a report, the analyst said, "A strong Bull run in this stock took a pause during the early part of September. Since then the stock has been experiencing a corrective phase in a gradual manner. Recently, we witnessed a breakdown from crucial 'Neckline' around 3,700. Last week, the stock prices resisted around it and have started falling once again. Thus, we expect some weakness to continue in this counter. One can sell this stock for a target of Rs 3,480 over the next 5 - 10 sessions. The stop loss should be fixed at Rs 3,731."
Hero MotoCorp, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 73,059.09 Crore) operating in Auto sector.
The current market price of Hero MotoCorp is Rs 3,658.50.
Time period given by the analyst is one week when Hero MotoCorp price can reach defined target.
Sameet Chavan recommended to keep a stop loss at Rs 3,731.
In a report, the analyst said, "A strong Bull run in this stock took a pause during the early part of September. Since then the stock has been experiencing a corrective phase in a gradual manner. Recently, we witnessed a breakdown from crucial 'Neckline' around 3,700. Last week, the stock prices resisted around it and have started falling once again. Thus, we expect some weakness to continue in this counter. One can sell this stock for a target of Rs 3,480 over the next 5 - 10 sessions. The stop loss should be fixed at Rs 3,731."
Hero MotoCorp, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 73,059.09 Crore) operating in Auto sector.
