Hero Motor Corp and HUL new Life High in Down Market
There is always bull market somewhere even in Down trending market and Bearish market we are trading into.
Hero Moto Corp
Hero Motor Corp is the Real hero in the Screen of Red. Nifty is down by 4% in past 2 days But HERO is up in green and making a fresh life time high.
Stock is trading in the rising channel but today candlestick formation is Called INSIDE DAY and if it breaks 2186 it can set into correction mode.
Indicators are making negative divergence but we need price confirmation.
Sell below 2186 Tgt 2166 and 2146
Hindustan Unilever HUL
Stock is forming rounding bottom formation which is bullish.
Looking at trend of market and the way Stocks are getting sold off Only sector which is still up is FMGC ie. HUL and ITC.
If nifty were to break 4720 Funds will sell HUL and ITC has rich valuation they are commending and they have not seen any correction.
Today also Nifty bounced from 4912 when HUL rallied . So keep a close eye on these 2 stocks in downtrend if these start breaking we are in from 4600 levels.
Buy above 348 Tgt 353,360
Sell below 341 Tgt 334,329 and 325
Greece Default looks unaviodable now as ABon Yileds are up by 111% ie, Traders are 100% sure Greek will default .
It will have far reaching effect on market but will the European Politicians have the will power to avoid default .