Hero Motocorp turning bearish

7 Kas 2016

Hero Motocorp after its long term uptrend journey broke at 3700.00, it seems to have turned bearish and trading touching down trend line resistance also retraced up to two fibo extensions now approaching to crucial 50% extension of fibo where we can see some change in this stock, trader may go short on this stock after a slight upward movement around 3370.00 and target for 3081.52 and if upward breakout occurs at 3370.00 exit on small stop loss.