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[𝗧𝗥𝗔𝗗𝗘 𝗥𝗘𝗣𝗟𝗔𝗬]

STOCK: #HEROMOTOCO

DATE: 17th September, 2024

TRADE LOGIC: False Breakout (FB) Trap+ Supertrend with 15D EMA support

Indicators used:

1. Supertrend (ATR Length: 9, Factor: 3)

2. Moving Average Exponential (EMA) (Length: 15)

𝗧𝗥𝗔𝗗𝗘 𝗦𝗨𝗠𝗠𝗔𝗥𝗬:

Hero motocorp was trading in a upper channel formation. It made a breakout on upper Trendline but failed to sustain creating a False Breakout (FB) trap trapping the buyers entered on 1st attempt breakout. Although there was a support at EMA 15 and once it crosses the previous high, trade placed on next candle with the Stoploss below the Lower Trendline Support.

𝗧𝗥𝗔𝗗𝗘 𝗥𝗘𝗦𝗨𝗟𝗧𝗦:

Stock given a rally from 5853 to 5971 (118 points)

Good trade captured with a RR ratio- 1:3

𝗡𝗢𝗧𝗘: This is only for Educational Purpose and no further Trading recommendations on this stock. Please manage your Risk Reward to grow your wealth

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