Technical Analysis: Hero MotoCorp Ltd (1D Chart)

The stock

recently faced strong rejection near the ₹5900–₹6000 supply zone, leading to a sharp short-term downtrend. It is currently testing a critical demand zone around ₹5250–₹5350. The latest daily candle shows slight buying interest at lower levels attempting to defend this immediate support. Immediate Support: ₹5250 – ₹5300. If the price breaks and sustains below this zone, it opens the door for a deeper correction toward the major structural base near ₹4800–₹4900. Immediate Resistance: ₹5600. A strong daily close above this level is required to negate the immediate short-term weakness and shift momentum back to the buyers. Major Supply Zone ₹5900 – ₹6000. This remains the heavy structural resistance overhead. Short-Term Outlook: The stock is at a crucial juncture. A breakdown below ₹5250 could trigger further downside momentum. Conversely if buyers successfully defend this level and the stock begins to consolidate, we could see a relief rally toward the ₹5600 mark. It is prudent to wait for a clear price action confirmation or a volatility contraction pattern before evaluating fresh positional entries.