Hero MotoCorp released an official statement confirming the ED’s visit to two of its offices in Delhi and Gurugram, in addition to Dr. Pawan Munjal’s residence. The company expressed its full cooperation with the agency during the investigation.
The ED took this action in response to a case initiated by the Directorate of Revenue Intelligence (DRI). The DRI had earlier detained one of Mr. Munjal’s close associates, who was found in possession of undisclosed foreign currency.
HEROMOTOCO Share Price
Amid this sentiment on fear, Heromtoco share price today falls by 200 points and those aware of the early ED raid news would have made good profits by Short Seliing the Heromotoco Share in Cash and options.
However, these movements in the share price are news based and can recover as well. But as a trader, you should keep an eye on the Heromotoco share price and track to find out possible trade opportunities to enter at a discounted price level for long term if you’re an investor.
Important Support & Resistence Levels
The First and most important support level for Heromotoco is 3025 and next Resistence and target level for upside is 3323.
Make sure to make any position in the market based on these levels. If price sustains above the 3025 level and also if ED raid find nothing illegal then we can see the price hit net target of 3323 very soon.
Also, be ready if the market breaks the support level then we can see the downside targets of 2893 as well.
Heromotoco Option Trading Safe Strategy
During such volatile movement in a stock price, you can also use hedging strategy in the stock options, For Example, you can buy CE and PE of almost same price around 40-50 and if market gives big momentum any side, then you can trail profits.
When the level gets clear for one side, the you can book the other side and trail the wining one to the maximum. Also, keep an eye on the news based sentiment and trade accordingly.
