Hero MotoCorp Ltd has given a clear breakdown with decent volumes, signalling a continuation of the downtrend. The stock is forming a series of lower highs and lower lows, indicating persistent bearish momentum.
A bearish Marubozu candle on the daily timeframe reflects strong selling pressure throughout the session. The stock is trading below key moving averages, further confirming weakness.
RSI is heading towards the oversold region, showing increasing negative momentum. MACD continues to reflect bearishness as the histogram expands. With a closing at 3,862.40, down by 2.38%, the technical setup suggests a sell recommendation.
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