Technical Analysis | HeroMotocorp | CA Rachana Ranade - YouTube

Better almost, some kind of  flickering I don't know why

still a little bit of flickering, I am still in my  office right now, that flickering is irritating me

it's flickering from the top I guess one minute

Hey folks, CA Rachana Ranade here and I welcome  you all to an unplanned livestream everyone  

might be like, asa kasa kay, today  is not Thursday, today is Wednesday,  

Wednesdays are like three recorded video releases,  so of course, does it mean that today a video  

is not going to be released, answer is no ,  today very well video is going to be released.  

Today's video is about AMA, ask me anything and  oh my god Ravi said your chair looks impeccable,  

thank you, that's my chair and I can tell you  that one of my subscribers had sent this share  

to me and uh you know, I was not aware who sent  it why he has sent it and uh that is the reason  

why you know I had just rejected it from the  delivery guy and I said yeah I not ordered it,  

take it away it, said it's free, I said, so  what, I had not ordered it so then I got an email  

uh from the subscriber and said that ma'am you  should be having this chair, this has ergonomic  

something so, it's good for my back I guess,  yeah it actually looks like a gaming chair,  

so till now it was only funance, now it  is fun gaming I guess right okay. So two  

reasons why today's live stream, number  one I had an announcement and number two,  

I saw a very nice pattern in technical analysis,  I mean I saw a very nice pattern in Hero Motocorp  

and I thought that I should be sharing about  this technical analysis pattern that I observed,  

as usual everyone has seen the disclaimer  in the beginning. Does it mean that  

it's a recommendation, answer is no, now everyone  has this by heart, this is just my analysis that I  

am putting forth in front of you right, so I will  quickly share my screen, I would want to show you  

what I observed in Hero Motorcorp, so just  give me one second, let me share my screen.

I guess you can see it now, I just  want to make sure whether it's  

properly visible or not and then I will  go ahead, so just spare one minute,  

after that is over then, I will be able  to check whether it's going well or not.  

Just one second, yes it's properly visible  okay. This is how Hero Motocorp chart looks  

like right now okay, if you have observed this  chart, I will just try to you know minimize  

MACD and RSI right now, because I just wanted to  show you this chart pattern as a main thing okay,  

so if you observe at this chart, by the way this  is a daily candlestick pattern that I wanted to  

show to you, so this is the highest point three  thousand six hundred almost okay from this,  

the stock corrected to a very low level, the  lowest point that we saw was almost yesterday in a  

short span of time, which was almost 2640 and the  question is, it really bouncing off from here or  

not and this low was also taken from, let me just  draw a line, see here, you can see that the stock  

did test this level somewhere around the July  month, one, two, three, so this was a breakout  

once now a support again took a very amazing  support at this level and the question is,  

is it ready for a bounce from here? Okay,  so first we need to see that this downtrend,  

has this downtrend reversed or not so for that  let me just draw a trend line quickly, as of now  

I hope everyone knows that alt t is a shortcut  for the trend line okay, so I just connected  

the highest point in the recent past, here you can  see the stock tried to test this again came down,  

again try to test somewhere here, came down,  somewhere here came down. Now I am zooming in here  

again, came down and here you saw that this gave  up a big breakout from this price level of almost  

2600 to 2700 in between. So this is somewhere  I can say that this downtrend pattern,  

seems to have been broken from this level, so  is happy to see this breakout in Hero Motocorp.  

Now the big question is that, is there any  other any other indication that I can see on  

this specific chart, so let me quickly delete some  other analysis so that you can focus on whatever  

I am trying to point out, okay so if you carefully  look at this okay, I have discussed this in my big  

video on technical analysis okay, so this is very  similar to something and let me just quickly draw  

it for you, this is like a left shoulder, this  is like a head, again a right shoulder and tada,  

so this very much looks like which type of pattern  and I want answer from you all. I hope now I have  

made it very simple for you to answer, let me see  if I can get this in the comment section, this is,  

this type of pattern is called as what ? this is  called as, yes I am already getting some answers,  

absolutely right, this is like an inverted head  and shoulder pattern okay so, left shoulder head,  

right shoulder but look from a shrishasan point  of view okay. So here you can see is the left  

shoulder, head and right shoulder. Now big  question is, what can be the target price,  

can we calculate the target price if we  see an inverted head and shoulder pattern?  

So we do we can calculate the target price and we  can also calculate the target date within which  

this can be reached. This this chart pattern, I  have taught in absolute detail in my course on  

technical analysis okay and technical analysis for  sure you can enroll, whenever time permits but,  

today I also wanted to talk about one more  thing which is not only and only about technical  

analysis, I have been talking about this, this  course on futures and options. I did talk about  

this when we did teachers day live stream as  well. I said that uh we are going to fade away  

the discount so, that's why you can see that this  discount is fading away today is the last day  

for the absolute discounted price on futures  and options and I had launched this at a super  

discount and the launch price was eleven thousand  nine ninety nine you can say it's 12,000 and

from tomorrow the prices of this same  course, as I mentioned, I am not going  

to completely take away the discount, I am not  going to take it from 12,000 to directly 25,000  

but, I am going to increase the price to 14,000  from tomorrow. I am repeating , the 12,000 price  

which is a super discounted price, I am going  to revise the price and from tomorrow the price  

will be 14,000 rupees, so if you want to enroll  for this, if you want to invest in knowledge,  

today is the day, last day for this  discounted price. In addition to this,  

if you want an additional discount I am sure  you already know about the coupon code CARRYT  

so you can use, this so in addition to 12,000  you can use this coupon code CARRYT because of  

which the course price will then go to 11,400  if you enroll today and if you enroll tomorrow  

the price will be 14,000 rupees. I have been  talking about this last four days of discount,  

three days, I have been putting it up on all  my social media handles as well but, I thought  

that I should be telling this today also, not  only about technical analysis, this short point  

I would want to share with you all. So if you are  thinking of investing in knowledge, why not today?

Okay so with, that let us move back to our  technical analysis. So I had a small announcement  

for futures and options going back to technical  analysis what can be the target price of Hero  

Motocorp? Target price, you can easily calculate,  you have to join the lowest point of the head  

to the neck line okay, what is the neckline?  Neckline is basically where you can see this line  

okay, this kind of a horizontal or a slant line  you can see, that the shoulder, head, so this this  

is like a neckline okay. So you have to calculate  the price movement from the head to the neckline  

and from the neckline, now let me just copy this  shortcut okay uh let me just take this one minute.  

I just quickly copy the same thing so that I  need not redraw it again and it will be exact.

Okay so what I have to do is from the neckline now  okay, from the neckline, here you can see this is  

the breakout candle, so yesterday there was a  breakout. I generally say that I never enter at  

breakout, I wait for a confirmation okay. Today we  saw a confirmation, we did see that today also it  

did end up in green. So what could be the initial  target? Initial target I can see, but, this stock  

can cross 3011 okay. Today's closing price is  2874, with the head and shoulder pattern the  

price ideally can move up to 3023 okay. Is this  the only thing which is happening in this stock  

or for this entire sector. I am sure you might  have heard about this thing also that today a PLI  

scheme was announced for the entire auto sector  so, there is a chance, there is a probability  

that auto sector stocks might perform well in  coming few days, so again I just wanted to share,  

I saw this pattern, inverted head and shoulder  pattern in this top so I thought this is how  

I should be sharing small bits and pieces  of knowledge, not a very long stream as such  

but sort of sharing this with you all.  Is this a recommendation, answer is no,  

as usual everyone knows that you have to do your  own analysis, you have to check out for yourself  

whether you feel that this is good or not and then  invest in it, that's your call completely okay.  

Welcome to all the new viewers, is actually  showing downtrend, RSI and MACD, signal is low,  

h1 was not decided. Please others please don't  send any other super chats because I want to  

keep this stream as a shorter one okay. I will  quickly check out for HUL, others as I requested,  

please know the super chats, we do have our  stocks in news, normal stocks and news wherein I  

discuss about other stocks as well so let  me just quickly pull up HUL as the last one.

Unilever chart and does it see in, not really  I can't say it's a doubter, I can say that from  

a consolidation, it just cracked up a little bit  today. MACD is going in a it's about to just just  

a bearish crossover. I can't say that it is in a  down downtrend as such but yes, I can see weakness  

in that stock right now which will okay. That was  that was such a sweet super chat, a cartoon which  

is dancing thank you. Viraj says loved your video,  I really adore you and try to watch all your  

videos, would be a dream to meet you, thank you so  much for being the best teacher thank you Viraj,  

if you happen to come down to Pune, if I happen to  have a meet up in Pune, we all will meet why not.  

So I hope, Pratik says IRCTC going up and up and  up, oh my god that stock is unstoppable again,  

uh those are seen by a stream on one stock  fundamentally strong stock that I am going to buy,  

IRCTC I did that stream, I said that, if it comes  out of the F&O ban, it will show a good rally. It  

came out of the front open yesterday and it  went up by eight percent. why I am doing this  

because I have still not entered that stock,  oh my god, I think I am jinxed, that stock  

it's never coming in my. Anyways so wanted to  keep this stream short and sweet as I mentioned,  

I think you have understood the analysis of  inverted head and shoulder pattern. I hope  

you have understood how a downtrend can be drawn,  how can we see whether the stock is in a reversal,  

many times I say this during my stocks in news  live stream, see whether you can see a reversal  

or not I feel that in Hero Motocorp, I could see  a reversal here so I thought let me just quickly  

tell this to everyone okay, plus I also wanted to  talk about uh the F&O course and as I mentioned  

that today will be the last day so I am again  posting your CARRYT that could be the coupon code  

that you can use additionally, today if you use  this coupon code you can uh you can enroll for the  

course at 11,400 but starting tomorrow, the course  will be, the discounts will start fading away,  

I am not going to take it to the original level  immediately but because of the lower discount  

it will go up to 14 000 okay. So that's what  I thought of quickly telling you everyone,  

I hope you are enjoying these short streams any  bits and pieces of knowledge. Today, 9 p.m, don't  

forget to watch AMA with CARR, that is nothing  but ask me anything with CA Rachana Ranade.  

Some nice topics like how can you  pursue your career in stock market,  

future of cryptocurrency and I don't know,  I will disclose all the questions right,  

so don't forget to watch the video today at 9pm  and that's it from my side guys Jai Hind and bye.