Monday, January 16, 2012

Hero Honda 'Irregular Flat' correction seems to be over!

Daily Chart
Hero Motors was mentioned to me by a dear friend. It seems that we prices have completed an important 5 wave advance in Sep 2001. Since then prices have traced out an irregular flat correction, in which wave C is 161.8 % of wave A. Also 5 waves seems to be complete in wave C of {II}. Now Hero Motors should go up from here in wave {III}. This is a beautiful chart.


  1. I am not a chartist but thought the same....what stoploss you reccomend if one has to go long now


    1. Shrikant there is a possibility of another low though not included in the chart above, but if we get resisted around 1900 - 40 levels we may see another low before embarking on a big up move.


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