Hero MotoCorp Limited

Lower High Formation – Breakdown Below 5,450 Trigger? Timeframe: Daily CMP: ₹5,417 Structure Bias: Bearish continuation 📉 Price Structure – Clear Distribution What we see on chart: • Strong rally till ₹6,350 • Series of lower highs after that • Recent rejection near ₹5,900 • Now trading near ₹5,400 support This is a lower high – lower high – breakdown setup. ₹5,450 was prior demand zone. Now price is slipping below it. 🌊 Elliott Wave Interpretation Likely count: Wave (1): ₹4,700 → ₹6,350 Wave (2): Correction phase unfolding Current move appears as Wave C of correction If Wave C equals Wave A, downside projection aligns near: ➡ ₹5,000–₹5,050 Which matches your marked arrow zone. 📊 Momentum Behavior Observations: ✔ Failure to sustain above ₹5,800 ✔ Sharp bearish candle near ₹5,900 ✔ Weak bounce, followed by selling pressure Momentum is rolling over. Break of ₹5,350 can accelerate downside. 📌 AVWAP Logic Anchored from recent swing high (~₹5,900): • Price trading below anchored resistance • Pullbacks failing near supply • No strong reclaim candle yet ₹5,600 now becomes supply zone. Unless price closes above ₹5,650, rallies likely to get sold into. 🎯 Key Levels Resistance: ₹5,550–₹5,600 ₹5,800 Support: ₹5,300 ₹5,000 (measured move zone) ₹4,850 (extended support)