Hero Honda, India's largest two-wheeler maker, declared an interim dividend of 3,500 per cent last week — Rs 70 a share of Rs 2 each on April 13. The stock sizzled almost 6 per cent during that session after that. This bullish momentum prolonged on Friday as well, and the stock broke out of its significant intermediate-term resistance at Rs 1,735 and its 200-day moving average by gaining 5.5 per cent. Volumes were good during both the trading sessions. Next key intermediate-term resistance is in the Rs 2,000-2,060 range.

The stock bottomed out in late February this year, after taking support from its long-term buttress around Rs 1,400. It has been on a medium-term uptrend since then.

However, it has a medium-term resistance at Rs 1,920. Inability to move above this level will lead the stock to revert to its immediate support at Rs 1,735 in the short-term.

Close below Rs 1,600 will mar the uptrend and drag the stock to Rs 1,400 in the medium-term.

Everonn Education (Rs 669.8)

The stock zoomed 13 per cent accompanied with heavy volumes last week. With this rally, it has breached its key resistance at Rs 650.

From its February low of Rs 435, the stock has been on a medium-term uptrend, and is hovering well above its 50- and 200-day moving averages. It now has resistance at Rs 700.

A strong move above this level can lift the stock higher to Rs 756 in the medium-term.

Failure to move beyond Rs 700 will pull the stock back to Rs 650 or Rs 600.

Only a dive below Rs 535 will mitigate the current uptrend and give room for the stock to decline to Rs 435-levels in the medium-term.

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