Technical Views:HDFC and Hero Honda

By | April 8, 2011

HDFC

HDFC is moving in a trendline channel as shown in above chart. Buying should be done only a sustained move above 720.

ON Daily Charts RSI and Stochastic are in overbought zone.

 

 

Stock will enter into uncharted terrotiry after a move above 720

Buy above 720 TGt 728,735 SL 715

Sell below 715 TGt 709,702 and 696

 

Hero Honda

Hero Honda hass been moving in a channel from low of 1413 to high of 1708. Stock has been making higher high and Higher low formation on daily charts and continued with its upmove.


As pe daily chart stock is hitting its upper trendline channel with indicators overbought a pull back till 5 EMA can be excepted.

 

Sell below 1670 TGt 1651 and 1621

Buy above 1710 Tgt 1720 1735 and 1750

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