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Rakesh Madhav CFA

3rd Oct · SEBI-Registered Analyst

Hero MotoCorp: Bulls Defending 5500, Eyeing Breakout

Technical View:

HEROMOTOCO
trades near ₹5,550, holding firm support at ₹5,400–5,500. Resistance lies at ₹5,600–5,700 where heavy call OI is capped. A breakout above 5,600 may extend the move to 5,750–5,800, while a slip below 5,400 could drag it to 5,300–5,350. Fundamental View: Hero reported ~8% YoY growth in September sales with strength in 125cc+ segments, aiding margins. The company maintains a debt-light balance sheet and offers steady dividends. EV investments and rural demand recovery are positives, though competition and margin pressures remain watch factors. Outlook: Momentum remains constructive. A move above ₹5,600 can fuel further upside, while consolidation between ₹5,450–5,650 is likely in the near term.

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