Hero MotoCorp — Daily Chart Breakout Trade Setup

Hero MotoCorp — Daily Chart Breakout Trade Setup

Range Bound: The stock has been consolidating between ₹4,170–₹4,400 for the past several weeks.

Structure: This is a classic rectangle consolidation, often a continuation pattern.

Volume: Watch for volume expansion on the breakout; prior breakouts lacked follow-through due to low volumes.

Higher Timeframe (Weekly/Monthly) charts show a bullish continuation since mid-May, with high-volume candles across weekly and monthly charts

Key resistance zones: Weekly resistance lies between ₹4,930–₹5,000.

Strong fundamental macro tailwinds: March sales show robust performance in both domestic ICE and EV segments (Vida)

🔍 Key Confirmation Signals for a Potential Trade

✅ Strong daily candle close above ₹4,420

✅ Above-average volume on breakout

✅ RSI crossing 60 on breakout adds momentum confirmation

⚠️ Risk Management Notes
Avoid early entry within the range (false breakouts possible)

Wait for EOD close above resistance for confirmation

Consider a trailing SL once the stock crosses ₹4,500