Buy Hero Moto Corp
September 2650 Call @ Rs 63
Stop loss: Rs 40
Target: Rs 100
Lot Size:200
Rationale:
-- Long build up is seen in the Hero Moto Corp Futures’ yesterday, where we have seen rise in Open Interest with price rising by 1.70%.
-- Stock price has broken out from the flag pattern on the daily line chart.
-- After a consolidation for the last five days, Stock price has given breakout on the daily charts yesterday by closing at highest level since 23-August.
-- Oscillators and Momentum Indicators like RSI and MACD showing strength in the stock on the daily and weekly charts.