Buy Hero Honda for target of Rs 1950-1970: Religare

MUMBAI: Birendrakumar Singh, technical analyst, Religare Securities is of the view that Hero Honda has broken a range that formed a “Triangle” pattern. He has advised to buy the stock for target of Rs 1950-1970.

LCP Rs 1863.75 buy at Rs 1860-1845 stop loss Rs 1799 target Rs 1950-1970 trading period 3-4 weeks.

“Hero Honda has broken a range that formed a “Triangle” pattern. The volume during the breakout was comparatively higher. Maintain a stop-loss of Rs.1799 for long position target of Rs 1950-1970.

Note: Trading idea valid for 3-4 weeks.